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US fertilizer industry consolidation holding farmers ‘hostage’ with price hikes, supply restrictions, USDA finds

( January 9, 2023, 19:58 GMT | Official Statement) -- MLex Summary: Fertilizer price monopolies are holding farmers “hostage,” increasing food costs and dissuading new market entry, according to a summary of nearly 1,500 public comments received by the US Department of Agriculture as part of a public request for information on competition and supply chain concerns in the fertilizer market. More than 70 percent of commenters described concerns about the power of fertilizer manufacturers, including “highly suspect” industry explanations of record price increases, “artificial product shortages,” and “a history of consolidation within and across business lines.” The comments also expressed concern about fertilizer manufacturers’ control of contract terms for supply, storage, and distribution and retail, noting that “3 companies control 90 percent of Midwest fertilizer storage and distribution.”See attached document....

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