New DOJ Probe Targets Players in the U.S. Fertilizer Market

With U.S. fertilizer prices increasing by up to 33% by some suppliers since Feb. 28, 2026, the U.S. Department of Justice (DoJ) has launched a formal investigation into the domestic fertilizer market, focusing on potential collusion and price gouging that many farmers say are hurting the industry from the ground up. The probe is examining several leading fertilizer companies, including CF Industries, Nutrien, Mosaic, Koch, and Yara, which together represent a substantial portion of U.S. nitrogen fertilizer supply and maintain strong positions in potash and phosphate markets.

Historically, changes in the fertilizer market have occurred gradually since the 1980s, when industry consolidation began reducing the number of fertilizer suppliers serving the U.S. market.

Jeff Pritchard, Chief Executive Officer of Westlink Ag Group, an agricultural consulting firm that advises growers and retailers on crop inputs and farm management, says the scale of consolidation has significantly reshaped the industry.

“Back in 1984, there were 46 nitrogen suppliers. Today, four of them control 75% of the U.S. market,” Pritchard said. “That’s a completely different paradigm, and its impact on fertilizer prices is relevant.”

Meanwhile, U.S. Senator Josh Hawley (R-Mo.) has called for increased scrutiny. In his letter, Hawley wrote: “American farmers should not be exploited by dominant firms using a foreign crisis as cover to impose unjustified price increases, restrict supply, or coordinate market behavior. If firms are using this moment to pad margins at the expense of producers who feed this country, the Department should act swiftly.

While farmers hope for regulatory intervention, Pritchard said the DoJ’s inquiry may have limited impact on fertilizer prices in the immediate term.

“Nothing will really come out of it in terms of price improvement in the short term,” he said. “Farmers will likely lower their expectations for yield, cut their inputs, and seek alternatives — because in a free market, there’s only so much the government can do in short order.”

Market observers say global supply chain disruptions and geopolitical events can contribute to fertilizer price volatility. However, structural issues within the domestic market — including limited competition — remain a significant factor driving higher costs for farmers. As Pritchard noted, “in a free market, there’s only so much the government can do in short order.”

For more, continue reading this article as it originally appeared on AgribusinessGlobal.com.