Independent Businesses Submitted More than 350 Applications for $3 Billion in Funding to Expand Domestic Fertilizer Capacity First Round of Awards Will Spur Competition and Give U. Fertilizer prices more than doubled between 2021 and 2022 due to many factors, including price hikes caused by the war in Ukraine, a limited supply of the relevant minerals, high energy costs, high global demand and agricultural commodity prices, reliance on imports, and a lack of competition in the fertilizer industry. If you’d like to subscribe to USDA Rural Development updates, visit our GovDelivery subscriber page