A mandatory price reporting program would be established for fertilizer under bipartisan legislation offered on March 26 by U.S. Reps. Dusty Johnson (R-SD) and Ashley Hinson (R-IA).
The Fertilizer Transparency Act, H.R. 8104, would require the U.S. Department of Agriculture (USDA) to establish the federal program for fertilizer prices and quantities sold in the United States. The data would be published weekly rather than annually to give farmers clearer insight into fertilizer markets.
“On top of market uncertainty, low commodity prices, and severe weather, high input costs have increased the financial strain for our producers,” said bill sponsor Rep. Johnson. “The Fertilizer Transparency Act would alleviate some of the uncertainty that producers face every day and help them plan best for the seasons ahead.”
Among the members who joined Rep. Hinson as original cosponsors of H.R. 8104 are U.S. Reps. Angie Craig (D-MN), Randy Feenstra (R-IA), and Zach Nunn (R-IA).
“Our ag economy is facing real challenges and producers are struggling to make ends meet amid historically high input costs and current market conditions. Despite this uncertainty, our farmers continue to work tirelessly to feed and fuel the world, and they deserve greater predictability,” Rep. Hinson said. “The bipartisan Fertilizer Transparency Act will provide long-overdue price transparency in fertilizer markets while promoting greater competition in the ag economy.”
H.R. 8104, which is supported by the South Dakota Corn Growers Association, has been referred for action to the U.S. House Agriculture Committee.