The cost and availability of fertilizer are still relevant issues for many farmers this year. American Farm Bureau Economist Faith Parum discussed AFBF’s new white paper aimed at addressing current volatility in the fertilizer market. The paper examined various initiatives undertaken so far to help stabilize the volatile fertilizer market, as well as possible preventive measures.
Parum said that because fertilizers are part of a global market, any disruption in a specific region or country can have repercussions worldwide. She identified various effective policy strategies that Congress and the administration could target to help stabilize the market.
She believed that the white paper’s publication should not be the end of it but instead serve as the starting point for future conversation on the topic. She called for a collaboration among key stakeholders to address this important issue for U.S. agriculture.
The increasing cost of fertilizer has been a hot topic in the farming community for quite some time now. The ongoing global supply constraints and disruptions have not only contributed to increased fertilizer costs but also considerably affected farmers’ ability to obtain fertilizers. Although it is impossible to predict the future, the current state of the world does not suggest a brighter future for farmers. As a result, they find themselves in a difficult financial situation with thinner margins and are forced to be more cost-conscious.
