Perfect Storm: Will things ever level out with high fertilizer prices?
There are multiple factors keeping fertilizer input prices high.
With record-high input prices seemingly here to stay, many are wondering if things will ever level out.
The Fertilizer Institute calls it a perfect storm of factors and an unpredictable market. The group says it is important to watch the energy situation in Europe closely to get a better understanding of what impacts supply and trade here in the United States.
TFI says the industry has a great opportunity to be a leader when it comes to climate-smart practices.
“Especially with bio-stimulants, enhanced efficiency fertilizers, your ace inhibitors slow release nitrogen. All of these products are just growing exponentially, and so I think that is the future. I think that’s where we’re going to watch it. I don’t believe that any of our major fertilizer manufacturers are scared of that. I think they’re embracing it because it doesn’t eliminate the need for nitrogen. It just really makes sure we’re being smart in efficiency and it’s used and all you have to do is look at some of those behaviors of buying up those technologies by some of those large fertilizer producers to see where their bet’s going, I think. It’s really hard right now for a retailer and a farmer to understand which of those products are going to work and which of those are just ideas and concepts at this point,” said Corey Rosenbusch, TFI President and CEO.
Despite the challenges the fertilizer industry faces, TFI says it is exciting to see it get a lot of attention.