U.S. Senators Tammy Baldwin (D-WI), Chuck Grassley (R-IA), and Joni Ernst (R-IA) are introducing bipartisan legislation to help lower the cost of fertilizer by shining a light on market factors driving the high cost of fertilizer. The Fertilizer Research Act would require the Department of Agriculture (USDA) to conduct a study on competition and trends in the fertilizer market and their subsequent impacts on price.
Within one year of the bill’s passage, the Secretary of Agriculture, in consultation with the Economic Research Service, would be required to issue a report on USDA’s website regarding the U.S. fertilizer industry.
Specifically, the report should include:
- A description of impacts on the fertilizer market that influence price;
- Market trends in the past 25 years;
- A description of the imported fertilizer and market impacts;
- Impacts of anti-dumping and countervailing duties;
- A study of fertilizer industry concentration;
- A study of emerging fertilizer technologies; and
- A description of whether current public price reporting is sufficient for market transparency.
This legislation is also co-sponsored by Senator Raphael Warnock (D-GA).
The Fertilizer Research Act is endorsed by the Wisconsin Corn Growers Association and National Corn Growers Association. They are also endorsed by American Soybean Association, American Farm Bureau Federation, National Farmers Union, and Farm Action Fund.
