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For many years, the Iowa Corn Growers Association has been raising concerns about the pressure and crushing prices put on farmers by the fertilizer industry. Fertilizer prices continue to rise while commodity prices go in the other direction.
ICGA said an investigation by the Department of Justice would be a step in the right direction, as more probing needs to be done. The Association thanked the Iowa Congressional delegation for hearing corn farmers’ concerns’ by bringing forward the Fertilizer Research Act in the Senate and House to review the competition and transparency within the fertilizer industry.
Additionally, ICGA and the Texas Corn Producers Association sent a letter to Attorney General Pam Bondi in early February requesting a status update on the report related to fertilizer pricing and industry consolidation.
Bloomberg reported this week that the DOJ has begun an official investigation into the U.S. fertilizer industry to explore whether several of the country’s largest fertilizer producers conspired to raise prices on American farmers.
NAFB news service
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