The Advancing Cutting Edge (ACE) Agriculture Act (S.834) was introduced in the US Senate by Senators Michael Bennet (D-CO) and Roger Marshall (R-KS) on March 16, 2023. The legislation will establish a new program within the U.S.
Biostimulants are growing in popularity in the agronomic market as innovative new products to optimize crop production and quality. Biostimulants, by definition, are substances or microorganisms that promote plant growth, nutrient uptake, crop quality or yield, and/or stress tolerance. Interest in biostimulant products has increased, especially in regards to sustainable agriculture as they may improve nutrient use efficiency.
“If there is one thing you take away from my comments, it is this: Fertilizer is a globally traded commodity, subject to international pressures and geopolitical events.” This emphatic statement was made by TFI president and CEO Corey Rosenbusch while testifying at a House Committee on Agriculture hearing on February 28th.
The world is facing a serious food shortage crisis. With the global population of 8 billion expected to grow by at least 30% over the next few decades, we need more food than ever before. Food security is a crucial issue for governments around the world—a growing population means more people need more food, but the amount of arable land available is not increasing. The United Nations states that there is currently a world food crisis in which over 1 billion people are facing starvation.
Last week, TFI congratulated the 2023 4R Advocates. These are outstanding farmers and retailers, whose continued dedication towards soil management serves as evidence of the safe and beneficial use of fertilizer. The 4Rs, using the right source at the right rate, right time, and right place, allow for better nutrient use by plants, leading to greater crop productivity, reduced environmental losses, and greater farm profits.
When discussing plant nutrition, most people are familiar with NPK. We see this content prominently displayed on bags of fertilizer at retail locations. But macronutrients for plants goes beyond NPK. Calcium (Ca), magnesium (Mg), and sulfur (S) make up secondary macronutrients for plants. These nutrients are as important as NPK, but are needed in slightly lower quantities.
Fertilizer prices increased to 10-year highs over 2021 and 2022, leading growers, policymakers and others in the agriculture industry to look for the reason why. Those in the fertilizer industry who experienced the back-to-back-to-back events first-hand that drove prices up over the course of those 24 months are keenly aware of the reasons why, but many outside the industry latched onto something more nefarious: market consolidation and greed.
Each year, The Fertilizer Institute collects data from member companies to track and highlight industry improvement in sustainability performance in key priority areas of workforce safety, energy and the environment, fertilizer use, and industry innovation. The 2021 report was released in February of this year.
March Insights
Fertilizer Markets, Supply and Demand
A summary of highlights from a recent presentation delivered by TFI market intelligence experts
Download presentation summary here
U.S. fertilizer manufacturers, importers and retailers are heavily invested in making sure that farming is profitable and sustainable. The U.S. fertilizer industry operates in a global economy, and the prices farmers pay for fertilizer are subject to a complex web of global supply and demand factors:
