A new American Farm Bureau survey shows a large majority of farmers can’t afford enough fertilizer this year amid skyrocketing prices. Nearly half of Midwest farmers say they can’t afford all the fertilizer they need this year. Almost 70 percent in the Northeast and West say the same, with 80 percent saying so in the South. American Farm Bureau President Zippy Duval said this has a ripple effect in the supply chain.
Outside of the Midwest, AFB found that only about 30 percent or fewer farmers responded to the survey regarding prebooked fertilizer. Two-thirds of those in the Midwest pre-booked. Still, Duval said the picture isn’t pretty.
94 percent of survey respondents said their financial situation has worsened or stayed the same since last year. The Farm Bureau says since tensions rose in the Middle East, nitrogen fertilizer prices have risen more than 30 percent, while combined fuel and fertilizer costs are up roughly 20 to 40 percent. Urea prices have increased by 47 percent since the end of February, the largest month-to-month percentage increase in urea prices. Many farmers surveyed said they will forego applying fertilizer this spring in hopes that prices will return to an affordable level later in the growing season.
For more information, visit fb.org.
