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00:03The FTC has launched a major investigation into fertilizer price increases
00:07that followed the start of the U.S.-Israeli war on Iran, according to Reuters.
00:12Fertilizer and fuel price spikes from the conflict, combined with drought in the U.S.
00:16plains, have strained farmers financially, with some facing a fourth consecutive year
00:21of declining margins. FTC chairman Andrew Ferguson announced the probe, which uses
00:27civil investigative demands to gather documents and testimony from companies.
00:31CF Industries, Mosaic, and Nutrient did not immediately respond to Reuters' requests for
00:36comment. Urea prices rose 55%, and another nitrogen fertilizer climbed 33%, according to the Kentucky
00:44Farm Bureau. A survey by the American Farm Bureau Federation found that most farmers cannot afford
00:49all the fertilizer needed for the current growing season. For all things money, visit Benzinga.com.
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