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Sen. Grassley calls on USDA to evaluate fertilizer industry prices
['Courtney Chaffee']
Local News – KIYX-FM Dubuque's Super Hits 106
Senator Chuck Grassley is calling on the USDA to issue a report that evaluates the impact of concentration in the fertilizer industry, “to shine a light on the market factors driving high the cost of fertilizer.” Grassley and Iowa’s other Republican Senator, Joni Ernst, are co-sponsoring a bill on the topic with Democratic senators from Wisconsin and Georgia.
The bill would require the USDA to produce a report within a year and review all the factors that are influencing price spikes in fertilizer costs.
Phosphate prices in August were 36% higher than in January and the price of potash, a key component in fertilizer, is rising as well.
Trade disputes are influencing fertilizer costs as well.
This year, 36% of the operating costs for a traditional row-crop farm will be spent buying fertilizer according to USDA projections.
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