Bloomberg reported that the U.S. Department of Justice (DOJ) is conducting an investigation into the U.S. fertilizer industry to explore whether several of the country’s largest fertilizer producers colluded to raise prices on American farmers. For many years, the Iowa Corn Growers Association (ICGA) has been raising concerns about the pressure and crushing prices put forth on farmers by the fertilizer industry. Fertilizer prices continue to rise while commodity prices continue to drop. An investigation by the DOJ would be a step in the right direction as more probing needs to be done on behalf of Iowa and U.S. corn farmers.
ICGA thanks Senators Grassley and Ernst and Representatives Feenstra and Hinson 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. ICGA specifically requested this legislation and submitted written testimony to Senator Grassley’s Senate Judiciary Hearing in October that explored competition issues in the seed and fertilizer industries.
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