One of the largest input for farmers is fertilizer. Four companies control 61% of nitrogen, 75% of phosphate, 82% of potash markets, meaning just four companies dominate the US fertilizer supply market. Wheat growers from my state have told me they faced an estimated excess of 40 to 100 million dollars annually from these fertilizer prices. Farmers do not have the margins to buy new equipment, so they face higher costs and keep aging equipment running. Cash rents and farm values are at a record high. (03:23–03:34)
CLAIM
Asserts that fertilizer prices cost wheat growers in Washington State $40 to $100 million annually.
This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.
