Fertilizer prices appear to be on the rise again. While they have not hit the record high they reached in 2022, Faith Parum, an economist with the American Farm Bureau Federation, says some products, like phosphates, are climbing higher.

"Really what we're seeing in this market, though, is volatility, and we think that will continue to persist as natural gas prices and shifting trade policies and other countries really are disrupting the markets and creating a lot of uncertainty," Parum said.

Parum said there are two main factors driving up the cost of fertilizer for farmers and ranchers.

"The big drivers are energy costs, mainly because nitrogen fertilizers rely on natural gas and so other countries have had decreased production due to conflict, as well as geopolitical disputes overall," Parum said. "There will just, again, be that uncertainty as you know, the world continues to move around through these geopolitical disruptions."

Parum said the best way to prepare for increased input costs is to keep an eye on the market and be ready to pivot with changing conditions.

"Farmers really just need to be aware and monitoring the market ahead of the next year, and so staying flexible and planning for this volatility will help you know, manage higher input costs, as well as just being aware of higher input costs across the board," Parum said.

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