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Iowa Farm Bureau welcomes fertilizer tariff reduction

Iowa Farm Bureau is pleased by a recent decision to reduce tariffs on fertilizer imports.  

IFBF president Brent Johnson says the U.S. Commerce Department lowering punitive import duties on phosphate fertilizer from Morrocco is a win for farmers.

“As we move into 2024, fertilizer pricing without some of those extra issues around the edges of that product I think will translate into some better opportunities for farmers in the future.”

Speaking to Brownfield during the Iowa Farm Bureau Annual Meeting in Des Moines Tuesday, he said high fertilizer prices have cut into margins the past two years.

“We experienced record high prices in six different fertilizers, sometimes ranging over 300 percent increased prices. And a large part of that percentage increase was those tariffs that were placed on (phosphate from Morocco).”

The Commerce Department lowered tariffs on Moroccan fertilizer from nearly 20 percent to about two percent last month.

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