White House addresses farming inflation

Photo courtesy of Envato Elements

From staff reports

Recognizing the need to boost global food production because of the Russia-Ukraine situation, the White House has come up with a plan to address higher input costs for U.S. farmers. 

To create financial security for farmers, the plan includes expanded crop insurance for farmers that would cover double cropping in an additional 681 counties, bringing the total to 1,935 counties that could use or develop double-cropping strategies. The plan also includes USDA technical help programs to help farmers with precision agriculture applications for target nutrients and input applications to crops. The hope is that this would make current supplies of fertilizers while lowering costs for farmers without reducing yields. This may be done on a cost-share basis with both USDA technical help and cost-share programs. 

The plan would also include an investment of $250 million for increased domestic fertilizer production, which would mean a total investment of $500 million from USDA funding sources.

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