Explanation of H.R. 8453 - Fertilizer Research Act of 2024
This bill requires the Secretary of Agriculture to publish a report on the fertilizer industry in the United States. The report will cover various aspects such as the impacts of fertilizer industry on agricultural product prices, the size and value of the fertilizer market over the past 25 years, patterns in pricing, importation of fertilizer, concentration of the industry, emerging fertilizer technologies, regulatory environment, transparency in price reporting, and projected market growth.
The report will be made publicly available on the Department of Agriculture's website within a year of the enactment of the Act. It aims to provide valuable information to stakeholders and policymakers about the fertilizer industry in the country.