WASHINGTON, D.C. – Today, Congressman Brad Finstad (MN-01) joined Congressman Dusty Johnson (SD-AL) in introducing the Fertilizer Transparency Act, commonsense legislation to empower America’s farmers with clearer, more reliable information about fertilizer and fertilizer product costs – one of their most significant inputs. Specifically, this legislation would require the U.S. Department of Agriculture (USDA) to publish fertilizer prices weekly on its website, ensuring producers have access to timely, accurate market data. Senators John Thune (R-SD) and Amy Klobuchar (D-MN) introduced companion legislation in the U.S. Senate.
“Throughout the last several years, southern Minnesota farmers have dealt with the compounding effects of increased input costs, weather-related disasters, and stagnant commodity prices, squeezing their margins and making it harder to make business decisions. As a fourth-generation farmer, I know firsthand how unpredictable input costs can create challenges for farmers and producers,” said Rep. Finstad. “This legislation will give farmers the transparency they deserve. By shining a light on price trends and improving access to reliable information, we’re putting more control back in the hands of the men and women who feed and fuel the world.”
“On top of market uncertainty, low commodity prices, and severe weather, high input costs have increased the financial strain for our producers,” said Rep. Johnson. “The Fertilizer Transparency Act would alleviate some of the uncertainty that producers face every day and help them plan best for the seasons ahead.”
“Pricing transparency is a critical first step toward ensuring fair and competitive prices in the increasing consolidated fertilizer market. The Minnesota Corn Growers supports several efforts to increase competition in the fertilizer market and appreciates Congressman Finstad’s support of fertilizer price transparency.” – Wesley Beck, President, Minnesota Corn Growers Association
“On the eve of spring planting, Minnesota soybean farmers continue to endure serious economic headwinds, and strengthening transparency and competitiveness in the marketplace is a critical step toward addressing some of the challenges we’re facing, including the cost of fertilizer. As a family farmer himself, Rep. Brad Finstad understands that promoting domestic fertilizer production will help protect our producers and reduce our reliance on global markets. We are grateful to Rep. Finstad and his congressional colleagues for recognizing that lowering the cost of farm inputs will help improve the outlook for American agriculture, which is the backbone of our nation’s economy.” – Darin Johnson, President, Minnesota Soybean Growers Association
“Fertilizer is one of the largest input costs farmers face, and recent price volatility has made it even harder to plan ahead, Improving transparency in the fertilizer market through reasonable reporting requirements will give farmers better insight into supply, pricing, and market trends so they can make informed decisions for their operations. Greater transparency will help promote competition and ensure a more level playing field when managing input costs.” – Dan Glessing, President, Minnesota Farm Bureau Federation
The Fertilizer Transparency Act was cosponsored by Reps. Nikki Budzinski (D-IL), Ashley Hinson (R-IA), Jimmy Panetta (D-CA), Mariannette Miller-Meeks (R-IA), Sharice Davids (D-KS), Randy Feenstra (R-IA), Josh Riley (D-NY), Zach Nunn (R-IA), Eric Sorensen (D-IL), and Angie Craig (D-MN).
