Arlington, VA – The Fertilizer Institute (TFI) President and CEO Corey Rosenbusch today provided official testimony during the House Committee on Agriculture hearing Uncertainty, Inflation, Regulations: Challenges for American Agriculture.
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.
TFI is concerned about the destabilizing situation occurring in the Ukraine. Our main concern is the safety of all the citizens in harm’s way.
Currently, it is unclear the exact magnitude and how the Russia-Ukraine conflict will affect the already-tight global market for fertilizer, but it will add additional pressure on a market that has already experienced many challenges over the last 18 months.
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:
ARLINGTON, VA – In testimony submitted to the House Agriculture Committee on Wednesday, The Fertilizer Institute (TFI) President & CEO Corey Rosenbusch highlighted the global nature of the fertilizer market and its critical role in feeding the world’s growing population.
This week, The Fertilizer Institute (TFI) released the 2016 Commercial Fertilizer Report. The 2016 edition, a joint project of The Fertilizer Institute (TFI) and the Association of American Plant Food Control Officials (AAPFCO), highlights that U.S. fertilizer nutrient consumption increased 0.6 percent to 22.13 million short tons during the fertilizer year ending June 30, 2016.
The following white paper was produced by the International Fertilizer Association:
What is food security? All people, at all times, have physical, social and economic access to sufficient, safe and nutritious food that meets their food preferences and dietary needs for an active and healthy life (United Nation’s Committee on World Food Security). (www.ifpri.org/topic/food-security)
This article was originally published in the May/June 2020 issue of Argus Media's Fertilizer Focus magazine.
Based on recent discussions among members of The Fertilizer Institute (TFI) board of directors, more than 80 percent agree that sustainability and environmental impact are the issues that will most affect their businesses for the next three to five years.