Statewide Iowa (RI) — 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 responsible for policing anti-competitive practices in the U.S. economy.
Lillibridge attended a discussion in Texas with Andrew Ferguson, chairman of the Federal Trade Commission. During the meeting, a Texas farmer told Ferguson the fertilizer industry is run by a cartel.
Lillibridge says fertilizer costs have doubled in the past 25 years.
Today, three companies control most of the North American fertilizer market. The FTC launched an investigation into pricing practices and market concentration in the fertilizer industry a week ago.
KIWA Staff Photo
