Farmers could see some relief on their fertilizer bills soon. Thanks to the advocacy work of the National Corn Growers Association, the U.S. Department of Commerce has reduced tariffs on phosphate from Morocco from 19.97% to 2.12%. This is a massive reduction in cost for fertilizer importers, and can mean big things for anyone who buys phosphate.
The move came just one year after the Department of Commerce denied a new tariff on Nitrogen fertilizer. That’s two big wins for American farmers in as many years.
The National Corn Growers Association, which you are a part of as a member of the Ohio Corn & Wheat Growers Association, was a driving force in the fight against these added costs. If you want to see the full economic breakdown of the decision, please visit https://www.ncga.com/stay-informed/media/in-the-news/article/2023/11/corn-growers-highlight-results-of-campaign-against-fertilizer-tariffs.
Here’s the gist: this win could save farmers $7 per acre of corn grown. And remember, tariffs are applied in 5-year increments. So if you grow 500 acres of corn, this one action influenced by your association could save you $17,500 over the next five years. Combine that with last year’s tariff decision, and you could save more than $20 per acre per year. That’s $50,000 over five years.