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Shining Light on Farm & Food Policy for 20 Years.
Thursday, December 19, 2024
The Commerce Department is sharply cutting its duty on Moroccan phosphate fertilizer products to just 2.12%, spurring optimism that imports will resume and provide American farmers with more supply options and better prices.
A bipartisan group of lawmakers is following the lead of some of the nation's most influential farm groups, which banded together earlier this month to ask the Commerce Department to reduce or eliminate the duty on key imports of phosphate fertilizers from Morocco.
Dozens of national and state agricultural groups are beseeching the Biden administration to consider high fertilizer costs that are weighing down farmers as the International Trade Commission and Commerce Department weigh their options on continuing to levy duties on imports of Moroccan phosphate products.
Eleven farm-state Republican lawmakers from the Senate and House are asking the Commerce Department to reverse a preliminary decision that would significantly raise the countervailing duty on Russian phosphate fertilizer.
Fertilizer prices may yet experience more volatility in Europe and South America, but the situation has mostly stabilized in the U.S., where fall applications will be relatively normal, says Ken Seitz, president and CEO of Nutrien, a major producer of potash, nitrogen and phosphate products.
Prices for fertilizer products have been dropping for months from highs last year after many producers cut down on applications, but major manufacturers such as Mosaic and Nutrien see farmer demand rising amid bullish fundamentals.
In this opinion piece, Jared Johnson, director of digital strategy at Kin + Carta, discusses how producers should embrace the data economy and utilize it in their operations as an additional revenue stream.
Agriculture Secretary Tom Vilsack on Friday announced $2.7 billion in total funding from USDA's Commodity Credit Corp. account to build domestic fertilizer capacity, support school meal providers and fund emergency commodity purchases by states.
Declines in fertilizer prices from 2022 highs and an improvement in California’s water supply suggest the upcoming fruit and nut season could be a good one for growers.
