USDA will soon dish out more than $100 million on increasing domestic fertilizer production.
They will be spending $116 million on the effort, with the money coming from the Commodity Credit Corporation. The funds will help expand fertilizer production in nine states across eight different facilities.
Ag Secretary Tom Vilsack says he hopes the money will lower inputs while increasing options for farmers. So far through the Fertilizer Production Expansion Program, USDA has spent more than half a billion dollars on more than 75 fertilizer facilities.
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Both Congressional Ag Committees took up the bill over the summer, but there’s no word on when the Senate could move forward; it does expire on September 30.
The $221 million will help farmers and ranchers cover losses from Hurricane Helene that USDA programs didn’t cover. They’ll focus on infrastructure, markets, timber, and future economic losses.
Farmers are struggling with low commodity prices and skyrocketing input costs, resulting in debt that is outpacing income across the sector, according to the USDA’s new farm income forecast.
