The U.S. Commerce Department announced it is lowering duties placed on phosphate fertilizers imported from Morocco from 19.97 percent to 2.12 percent. The decision came after the agency conducted an administrative review of the duties, which is performed annually by retroactively examining the price of shipments and other factors. The National Corn Growers Association, a long-time vocal opponent of the duties, called it a big win for corn growers.
“This victory was made possible by corn growers who spoke out against these duties as they faced skyrocketing fertilizer prices and product shortages at the behest of The Mosaic Company,” says NCGA President Harold Wolle.
The issue stems from a decision by Commerce that favored a petition by Mosaic to impose duties on phosphate fertilizers imported from Morocco and Russia. Mosaic had claimed that unfairly subsidized foreign companies were flooding the U.S. market and selling their products at extremely low prices.
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