Eastern Iowa Farmer Slams Fertilizer Price Gouge Amid Soaring Diesel Costs

An eastern Iowa farmer is sounding the alarm on soaring input costs that are putting a strain on farm finances.

Lance Lillibridge, who farms near Vinton and serves on the Iowa Corn Promotion Board, says fertilizer manufacturers are making huge profits at the expense of farmers. He points to second-quarter earnings of 77% for some fertilizer companies despite a 15% decline in sales volume, calling it 'price gouging.'

Fertilizer costs are just one part of Lillibridge's concerns. He also notes that diesel prices have skyrocketed, making it costly to run farm equipment. A combine can cost between $1,200 and $1,500 per day to operate, not including other expenses like fuel for grain carts and semis.

Lillibridge says there are few options for reducing fuel costs beyond minimizing idle time for equipment.