The American Farm Bureau’s nationwide survey reveals that 70% of farmers cannot afford to purchase enough fertilizer to get them through the year.
AFBF is announcing that more than 5,700 farmers, both Farm Bureau members and non-members, from every state and Puerto Rico took the survey.
The analysis shows that almost 8 in 10 farmers in the southern U.S. say they can’t afford all needed supplies this year, followed by the Northeast and West at 69% and 66%, respectively, compared to 48% of the farmers in the Midwest.
Just 19% of farmers in the South prebooked fertilizer purchases in advance of planting season.
AFBF also reports that in the Northeast, only 30% of farmers prebooked, followed by 31% in the West, and 67% in the Midwest.
Even with higher pre-booking rates, almost one in three Midwestern farmers still report entering the season without securing all of their fertilizer needs.
The conflict in the Middle East sent fertilizer and fuel prices soaring.
The closure of the Strait of Hormuz is keeping critical fertilizer supplies and crude oil from reaching global markets, putting a squeeze on supplies around the world. hopes that prices will return to an affordable level later in the growing season.
