USDA announces $250 million in grants to boost domestic fertilizer production
The United States Department of Agriculture announced last week that it will dole out $250 million in grants to boost American fertilizer production and support the nation’s farmers. The move comes more than a month after Russia temporarily suspended ammonium nitrate exports and, more recently, its Ministry of Industry and Trade proposed further restrictions. The U.S. has been a major importer of fertilizer, relying on nations like China and Russia for major fertilizer components like potash. The grants will be a welcome relief for U.S. farmers, who have seen fertilizer prices more than double since last year. Alongside the latest geopolitical conflict, booming fertilizer prices are the result of myriad factors, including higher natural gas prices, export restrictions by major producers like China, and temporary plant disruptions stateside thanks to severe storms. —Matthew Sedacca
