The United States Department of Justice and the U.S. Department of Agriculture have announced a joint probe into the sharp rise in farm input costs.
Under a new memorandum of understanding, the justice department’s antitrust division will coordinate with the agriculture department to review competitive conditions in the fertilizers, seeds, machinery, fuel, feed, and other essential sectors..
Agriculture Secretary Brooke Rollins described the effort as a way to protect farmers and ranchers from the volatility and financial strain created by input inflation. Lawmakers from both parties have echoed concern that market consolidation and foreign reliance may be contributing to higher costs.
Depending on the findings and industry responses, the probe is likely to have ripple effects into the Canadian market where U.S. suppliers hold significant market share.
