More than 170 farmers from 13 states gathered Friday in Iowa to raise concerns about fertilizer prices and competition within the industry.
The event, described by organizers as a “Fed Up” fertilizer hearing, focused on major fertilizer producers, including Mosaic, Nutrien and CF Industries.
Organizers said fertilizer prices have doubled—and at times tripled—since 2020. During the same period, organizers said fertilizer companies generated more than $20 billion in profits for shareholders.
U.S. Department of Agriculture Deputy Secretary Stephen Vaden told producers the department is committed to examining fertilizer pricing and enforcing federal antitrust laws.
Vaden said the USDA is developing actions intended to provide greater transparency into activity within the fertilizer market.
Iowa Corn Growers Association President Steve Kuiper said farmers plan to continue collecting evidence and calling for investigations into fertilizer prices and competition.
Producers attending the hearing said they want more competition among suppliers and what they consider a fair and open fertilizer market. Fertilizer represents a significant input cost for crop producers, meaning higher prices can reduce farm income and increase the cost of planting a crop.