By Leah Douglas WASHINGTON (Reuters) -The U.S. Department of Justice antitrust division will work with the Department of Agriculture to look closely at the rising cost of agricultural inputs like fertilizer and seeds under a memorandum of understanding signed on Thursday, said Agriculture Secretary Brooke Rollins. The goal of the joint effort is to “protect […]
U.S.
US justice department to examine rising cost of farm inputs, says farm secretary
Audio By Carbonatix
By Leah Douglas
WASHINGTON (Reuters) -The U.S. Department of Justice antitrust division will work with the Department of Agriculture to look closely at the rising cost of agricultural inputs like fertilizer and seeds under a memorandum of understanding signed on Thursday, said Agriculture Secretary Brooke Rollins.
The goal of the joint effort is to “protect American farmers and ranchers from the burdens imposed by high and volatile input costs, such as feed, fertilizer, fuel, seed, equipment and other essential goods,” Rollins said at the Ag Outlook Forum in Kansas City, Missouri.
The DOJ will scrutinize competitive conditions in the agricultural marketplace, including antitrust enforcement that promotes free market competition, Rollins said.
Rollins previously said the USDA is examining high fertilizer costs and exploring options for farmer relief. The U.S. farm economy is saddled this year with low crop prices and trade disputes.
(Reporting by Leah Douglas in Washington, Editing by Franklin Paul and Nia Williams)