On the surface of things, the fertilizer category did not have a good year in 2023. But looking deeper at all the facts tells a slightly different story. According to data collected on the 2023 CropLife100 survey, the nation’s top ag retailers saw their fertilizer revenues drop off significantly during this past growing season – from $23.4 billion in 2022 to $22.4 billion in 2023.
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10 | Agtegra
Agtegra Cooperative is an innovative, farmer-owned grain and agronomy cooperative with more than 6,700 active member-owners in eastern North and South Dakota. In 2023, fertilizer sales represented 57% of the cooperative's total revenue ($201 million-$1 billion). Pictured is Agtegra's Warner, SD, agronomy and grain facility.
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9 | Co-Alliance
Co-Alliance is a member-owned supply and marketing operation delivering innovative solutions for farmer-members and customers across Indiana, Ohio and Michigan. In 2023, fertilizer sales represented 62% of the cooperative's total revenue ($201 million-$1 billion).
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8 | MFA
MFA Inc. is a Midwest-based regional farm supply and marketing cooperative serving more than 45,000 farmer/owners in Missouri and adjacent states. In 2023, fertilizer sales represented 65% of the cooperative's total revenue ($201 million-$1 billion). Pictured is MFA's Albany, MO, facility.
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7 | GreenPoint AG
GreenPoint Ag Holdings, LLC is an American-owned agricultural input supplier, resulting from three financially strong businesses coming together to better serve farmers and rural communities of the Southeastern U.S. In 2023, fertilizer sales represented 52% of the company's total revenue ($1 Billion+). Pictured is GreenPoint AG's Decatur, AL, location, which includes a corporate office, a fertilizer terminal, and an agronomy distribution center.
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6 | Wilbur-Ellis
Established in 1921, Wilbur-Ellis is a leading international marketer and distributor of agricultural products, animal feed and specialty chemicals and ingredients. In 2023, fertilizer sales represented 47% of the company's total revenue ($1 Billion+).
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5 | CHS
CHS Inc. is a leading global agribusiness owned by farmers, ranchers and cooperatives across the U.S. In 2023, fertilizer sales represented 62% of the cooperative's total revenue ($1 Billion+). Pictured is CHS' blending facility in St. Charles, MN.
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4 | GROWMARK
GROWMARK is a cooperative organization based in Bloomington, IL. In 2023, fertilizer sales represented 44% of the cooperative's total revenue ($1 Billion+).
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3 | Simplot Grower Solutions
J.R. Simplot serves more than 40,000 farmers through its wholly-owned subsidiary Simplot Grower Solutions. In 2023, fertilizer sales represented 49% of the company's total revenue ($1 Billion+). Pictured is an aerial view of Simplot Grower Solutions' St. Anthony, ID facility. Photo credit: Marcus Construction
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2 | Helena Agri-Enterprises
Helena Agri-Enterprises, headquartered in Collierville, TN, is one of the foremost agronomic solutions providers in the U.S. In 2023, fertilizer sales represented 44% of the company's total revenue ($1 Billion+).
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1 | Nutrien Ag Solutions
Operated by Nutrien Retail, Nutrien Ag Solutions is a unit of Nutrien Ltd., the world’s largest agriculture inputs company. In 2023, fertilizer sales represented 39% of the company's total revenue ($1 Billion+). Pictured is an aerial view of Nutrien Ag Solutions in Holdrege, NE. Photo: Stueve Construction
“According to most ag retailers, the culprit for this sales declines in 2023 tied back to higher fertilizer prices coming back down to earth,” said CropLife Editor Eric Sfiligoj. “Not too long ago, exceptionally high fertilizer prices were causing plenty of worry among ag retailers. The fear was that grower-customers would be severely cutting down on their macronutrient applications – particularly phosphorus and potash. Indeed, most crop nutrients were selling at nearly $1,000 per ton, with some forms of nitrogen easily cracking the $1,500 per ton barrier.”
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But based upon the latest fertilizer price data, these higher prices have settled back. In fact, according to one grower that CropLife spoke with at a recent trade conference, nitrogen-based fertilizers are now selling for $500 to $600 per ton – about the same amounts that were being paid by growers back at the start of 2021.
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According to ag retailers, this price drop meant that grower-customers were expected to be in a “buying mood” going into the 2024 spring season. That’s a great sign for the 10 ag retailers that led the U.S. in fertilizer sales in 2023. In total, the top 10 companies in fertilizer revenue generated $15.3 billion this past year, which comprised 68% of total CropLife 100 fertilizer revenue ($22.4 billion). To find out which companies made that list (in reverse order of sales), view the slideshow above.
Editor’s note: Companies included in the CropLife 100 listings were limited to independent dealerships and cooperatives that offer fertilizer, crop protection, seed, and custom application services. Figures do not include a host of services, such as data management, consulting/scouting, or grain elevator revenue. Dealerships and cooperatives are ranked in order by total sales in their respective sales group.
225Top 10 Ag Retailers With the Most Fertilizer Revenue in 2023
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In today’s complex and fast-paced crop production sector, the team at CROPLIFE keeps 21,000 agricultural retailers, distributors and their suppliers up to date on such decidedly 21st century issues as seed technology, biotechnology, precision agriculture, customer service and retention, and business management. See all author stories here.