Ohio Farmer shares comments about fertilizer prices with the Federal Trade Commission

The Federal Trade Commission (FTC) has launched a highly anticipated investigation into the fertilizer industry’s pricing practices and market concentration. Federal Trade Commission Chairman Andrew Ferguson recently announced the investigation at a gathering of farmers from across 18 states at a farm just outside of McKinney, Texas. John Settlemyre, an Ohio farmer from Clinton County was in attendance, and also shared his concerns at the event.

“Chairman Ferguson made clear what Ohio farmers have been saying for years — the fertilizer market is broken, and it is costing farm families real money,” Ohio Corn & Wheat Growers Association President Eric Tipton said. “When a handful of companies can drive up one of our most important input costs while farm income falls, farmers and consumers both pay the price. The FTC’s investigation is a necessary step toward restoring fairness, transparency and competition to the fertilizer market.”

The event titled “Fed Up: Fertilizer Cartel Profits off Farmers’ Backs and Your Grocery Bill”, took aim at the crushing input costs set by Mosaic, Nutrien, CF Industries and Koch. Those costs have driven family farms to the breaking point, with bankruptcies climbing to record numbers, as fertilizer shareholder profits hit record highs. To paint a picture with numbers, fertilizer prices rose more than 150% since 2020, far outpacing inflation, while net farm income fell 31% from its 2022 peak.

“Fertilizer prices are not just numbers on a page. They affect our farms, our families, and the decisions we make every season,” commented John Settlemyre, a Clinton County farmer. “Today, farmers shared what we are seeing firsthand, and now we need this investigation to follow the facts and bring accountability to the market that farm families depend on. We appreciate Chairman Ferguson and the FTC for listening and taking this issue seriously.”

The FTC reiterated its commitment to maintaining the confidentiality of its sources in its investigative process, with the chairman citing the Commission’s launch of a confidentiality commitment on its website last week. Ferguson encouraged those with information that would be helpful in its’ investigation to come forward to the FTC, with the confidence of the Commission’s protection.