Why do ag groups say recent moves to reduce fertilizer duties could be short-lived?
Import duties were recently lowered on Moroccan phosphate, but now, some ag groups worry it will not last for long.
Nancy Martinez with NCGA tells Brownfield Ag News the new duty could fluctuate. The Department of Commerce is currently going through a process to recalculate those duties, and it is set to be released next month. NCGA is still fighting for lower fertilizer prices, and Martinez says the group is also keeping an eye on supply chains as well as geopolitical-political events.
Senator Chuck Grassley says either way, the recent reduction of duties was good news for farmers.
“Obviously, this is positive news for Iowa farmers because there will be more competition to the American company that has 82% of the market. It ought to get the price down and hopefully, it does. The Iowa Corn Growers Association is pushing for the next Farm Bill to require a view of competition and transparency in the fertilizer industry.”
Senator Grassley says he is going to introduce legislation that mandates a complete study of the fertilizer industry.