NFU calls for federal investigation in high fertilizer prices

 

The National Farmers Union has renewed a call on the federal government to investigate farm fertilizer pricing.

President Katie Ward told the Commons agriculture committee last week fertilizer companies are charging exorbitant prices.

She wants the agriculture committee to investigate all the factors behind fertilizer prices.

Ward says the fertilizer companies blame high prices on supply chain issues, but are making windfall profits.

She says Nutrien, Canada’s largest fertilizer producer, reports fourth quarter net earnings nearly four times higher than a year ago.

CF Industries, the second largest producer, reports fourth quarter net earnings nearly eight times higher than a year ago.

Yara International, also with significant Canadian production capacity, is also posting higher net returns.

The NFU says when farmers face supply chain issues, their incomes go down, not up.

The NFU says there is profiteering due to lack of competition in the fertilizer business.

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