Lawmakers Seek Biden Action on Fertilizer Prices

Lawmakers are raising their concern to President Joe Biden regarding record increases in fertilizer prices approaching the spring planting season. Senator Bill Hagerty, a Tennessee Republican joined by 18 senate colleagues, penned a letter to President Biden urging the administration to “immediately take all necessary steps to curtail the rising costs impacting American farmers and consumers.” Fertilizer is a primary input and major expense for farmers, and price increases will significantly affect farm profitability and the prices of food and consumer products, the senators wrote. Considering Russia’s role as a key producer of fertilizer and necessary inputs of fertilizer, its invasion of Ukraine and sanctions imposed on the country are likely to cause shortages and price increases of fertilizer. The potential disruptions, coupled with skyrocketing energy prices, will harm American farmers, according to the lawmakers. The letter states, “We are therefore urging your administration to review all available options to lower the cost of fertilizer.”

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