Farmers and investors will find out if a massive fertilizer acquisition will limit their supply options and raise their costs. Pennsylvania’s Agriculture Secretary said that the future of the farming industry could hinge on people’s abilities to change. And older farmers in small communities seek more options for the care that they will need either on or off the farm.
Koch Completion – A $3.6 billion acquisition of a fertilizer plant in southeast Iowa is now complete, according to Koch Ag & Energy Solutions. The company bought the facility from OCI Global.
The facility had been one of the largest in the world when it was built in 2017. Iowa politicians, led by its former governor Terry Branstad, promised nearly half a billion dollars in local and state incentives with the commitment to provide another fertilizer source for farmers.
Agriculture Dive reported on Koch Ag & Energy’s response to the deal and how it will provide additional nitrogen options for customers. The article also looks at the opposition by some Iowa lawmakers who urged the Justice Department to block the deal.
Changing for the Future – Perhaps it can be said for any industry, but success in the future can depend on the ability to change. Pennsylvania Agriculture Secretary Russell Redding made that case to people gathered on the campus of Penn State Berks in Reading.
Finances, environmental stewardship, and meeting consumer demands were all highlighted in the visit.
Pennsylvania has lost about 200,000 acres of farmland since 2017, which makes the efficiency of agricultural producers even more important as they work to feed and fuel the world’s growing population. Reading Eagle reported on Redding’s comments about how the government needs to work with farmers and help them capitalize on adapting to changes.
Farmers’ Care – As many smaller communities lose population, so do the options for some farmers in their later years to find the care they need. Nursing homes have closed after failing to attract the quality staff they need, make the money the owners want, or both.
That can leave farm families with few places to turn if a loved one needs skilled care. And for those who are fortunate to have an available room in or near their community, they still may not be able to afford the cost.
National Public Radio profiled a North Dakota family who considered selling part of the farm to pay for care. The family is like many whose worth is largely tied to the value of their farmland. They often don’t have long-term care insurance or the financial resources to pay for nursing home care in retirement.
