Fertilizer prices spike as war continues, which could effect the prices in the grocery stores

FARGO, N.D. (KVRR) — From tariffs to crops, and now fertilizer. Farmers across the region are faced with having to dig deep into their wallets in order to purchase fertilizer.

“We’re in very, very difficult financial times. This fertilizer price spike is not making that any easier,” said Matt Perdue, President of North Dakota Farmers Union.

Fertilizer is vital for many crops, including corn, soybeans, wheat, and rice, ingredients in foods we buy every day. According to Perdue, last year’s fertilizer prices were already high, but with the ongoing war in Iran, prices have spiked even higher.

“Urea fertilizer, for example, is over nine hundred dollars a ton. Significant increases in price. I’m hearing a lot of producers say that this last booking of fertilizer they’re talking about $200 over what they paid last fall or during the winter. And two hundred bucks a ton is a big impact,” said Perdue.

To address the ongoing spike in prices, U.S. Senators Amy Klobuchar, John Thune (R-SD), and Roger Marshall (R-KS) introduced bills that would compare fertilizer market prices and expand domestic fertilizer production.

“We appreciate that the administration is investigating competition in the fertilizer industry. Looking for indications of collusion or price gouging. I think the bottom line for us is those investigations only matter if they’re followed by real enforcement. If the federal government is willing to take steps that actually remedy and respond to those challenges. And so we’re going to continue to have those conversations with the administration,” said Perdue.

Perdue says that because of the rising prices, farmers may be less likely to apply as much fertilizer as in years past.

The current spikes in prices have been an ongoing battle over the last several years. But it’s also being said that the existing fertilizer prices will not fall so quickly.