A new federal grant program announced Tuesday seeks to increase American-made fertilizer production.
Agriculture Secretary Tom Vilsack announced the $500 million in grants, intended to spur competition in the fertilizer sector and combat price hikes on U.S. farmers.
The Fertilizer Production Expansion Program is part of a government-wide effort to promote competition in agricultural markets.
The Commodity Credit Corporation grants will support independent, innovative and sustainable American fertilizer production to supply American farmers. Funds also will expand the manufacturing and processing of fertilizer and nutrient alternatives in the U.S. and its territories.
USDA plans for a 45-day application window for applicants to receive priority for projects that increase the availability of fertilizer and nutrient alternatives for farmers to use in crop years 2023 or 2024.
USDA will also offer an extended application window for financial assistance to significantly increase American-made fertilizer production to spur competition and combat price hikes.