At the National Association of Farm Broadcasters Convention, Farm Director KC Sheperd stopped by The Fertilizer Institute booth where she spoke with the organization’s President and CEP Corey Rosenbusch.
While fertilizer prices are fifty percent lower than last year and still below the ten-year average, Rosenbusch said that there is always a crisis in his realm, citing the rail crisis in Canada and the Florida hurricane’s impact on phosphate production.
As far as the election, Rosenbusch said that The Fertilizer Institute was prepared for any outcome. “From a positive standpoint, I think we are all optimistic that we are going to see a lot of regulatory pressures lifted,” he commented. “On the flip side, we are really concerned with what Trump does with trade and the Inflation Reduction Act. A lot of our member companies have invested billions because of the incentives of the 45 Tax credits. Fertilizer was named in one of the requirements of some of the grower sustainable jet fuel 45 Tax Incentive.”
Nearing the end of his previous term as president, Trump made the fertilizer industry happy when he approved the use of phosphogypsum. “It is a byproduct of phosphate production, and companies spend hundreds of millions of dollars maintaining those in giant stacks – the mountains you see in Florida,” Rosenbusch explained. “He allowed for that to be used in road construction to contribute to the circular economy.”
Within two months of taking office, the Biden Administration reversed the decision, so The Fertilizer Institute hopes that it will be within the initial priorities of executive orders when the new Trump administration takes office.
Another concern for The Fertilizer Institute is the falling levels of the Mississippi River. Rosenbusch heard through a member with a terminal on the lower Mississippi that they haven’t been able to get barges into their terminal since June. Subsequently, all deliveries are moving via rail or truck, which increases costs by five or six times normal.
“At the end of the day, that all gets passed down to the grower, then ultimately to us as consumers,” he stated.
He is looking forward to hosting the 4R Farmer Advocates in Washington D.C. “They tell a great environmental, nutrient, and stewardship story around our four Rs of applying fertilizer at the right source, rate, time, and place. If there are any growers out there interested in telling their story and the good work they are doing, the application process opens in January. Talk to your local ag retailer, and we will get them nominated in addition to bringing them to D.C. a couple of times a year to talk to policymakers, attend conferences, and the Commodity Classic. They are terrific communicators for the industry.”
