(Radio Iowa) – A past president of the Iowa Corn Growers Association says today’s fertilizer prices are not sustainable. Lance Lillibridge, who farms near Vinton, recently shared that message with the federal regulator in charge of policing anti-competitive practices in America’s economy. “Farmers are basically going broke right now,” Lillibridge says. “Our input costs are out of control and they have been for many years. This isn’t an Iran problem. This is a problem that’s been going on for quite some time.”
Lillibridge attended a discussion in Texas with Andrew Ferguson, the chairman of the Federal Trade Commission. A Texas farmer told the chairman the fertilizer industry is run by a cartel. Lillibridge says fertilizer costs have doubled in the past 25 years. “More than anything, we need more competition in this market,” Lillibridge says. “You know, there’s just no competition right now and that’s our biggest problem.”
Three companies control most of the North American fertilizer market today. The Federal Trade Commission launched an investigation into pricing practices and market concentration in the fertilizer industry a week ago.
(Brent Barnett, Brownfield Ag News)
