A recent article from Progressive Farmer reported on a letter signed by NFFC along with seventeen of our allies to the Federal Trade Commission and the Department of Justice. We urged the FTC and DOJ to thoroughly investigate the Koch Industries’ purchase of an Iowa fertilizer plant.
Agriculture and environmental groups have asked the federal government to investigate Koch Industries’ planned $3.6 billion acquisition of OCI Global’s Iowa Fertilizer Company, expressing concern the transaction would further concentrate the fertilizer industry.
The article goes on to cite our concerns:
“Fertilizer is one of the most highly consolidated sectors in American agriculture, with the top four firms collectively controlling 75% of fertilizer markets,” the letter said.
“Koch Industries is in fact one of these four fertilizer firms, in addition to being one of the largest privately held companies in the country. While we would harbor grave concerns about any acquisition that further consolidates an agricultural sector as concentrated and as critical as fertilizer, those concerns are much more serious given this deal involves hundreds of millions in taxpayer dollars.”