00:00It's Benzinga, bringing Wall Street to Main Street.
00:02U.S. agriculture groups warned that the Middle East conflict and the closure of the Strait of Hormuz
00:07are driving higher fuel and fertilizer costs that could raise food prices and strain farmers,
00:12according to Benzinga.
00:14Fertilizer producers saw stock gains as prices rose,
00:17but farmers said costs are increasing during planting season.
00:20In a March 19th letter, groups cited a January winter storm,
00:25inflation, trade uncertainty, and declining crop prices.
00:28They called for measures including assistance payments, support for specialty crops,
00:33relief for farmers impacted by low prices and tax incentives.
00:36A White House spokesperson said the administration views disruptions from Iran as temporary
00:41and is taking steps to support farmers,
00:44including allowing fertilizer exports from Venezuela and waiving shipping restrictions.
00:49She also said Trump has supported farmers through policies such as lowering input costs,
00:53providing assistance payments, and negotiating trade deals.
00:56The DNC said Trump's trade policies and war with Iran are pushing farmers toward financial distress.
01:02For all things money, visit Benzinga.com.
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