(Bloomberg) -- The Biden administration is making more than $116 million in domestic fertilizer investments as part of a larger push to boost competition and lower costs in the industry.
“When we invest in domestic supply chains, we drive down input costs and increase options for farmers,” US Agriculture Secretary Tom Vilsack said in a statement on Wednesday. The investments will help eight facilities expand fertilizer production across nine states.
The move comes as some farm groups and lawmakers are pushing for more scrutiny of concentration within the $140 billion US fertilizer industry. The US Department of Agriculture’s fertilizer program overall has invested $517 million in 76 production facilities in a bid to give American farmers more domestic options for getting the nutrients needed to grow crops for feeding and fueling the world.
Supply-chain disruptions in recent years have spurred countries including the US and Brazil to focus on making themselves less reliant on global supplies.
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