Antitrust Law Daily Wrap Up, ANTITRUST NEWS: Illinois family farm brings antitrust class action against NPK fertilizer giants, (Apr 27, 2026)

By Justin Marcus Smith, J.D.

The complaint alleges that NPK fertilizer manufacturers materially reduced or eliminated the boom-and-bust cycle usually associated with agricultural inputs and propped up fertilizer costs during periods of falling input costs by fixing prices.

A plaintiff holding itself out as an independent Illinois family farm has filed a putative class action complaint against the major suppliers of NPK fertilizer in the United States and two fertilizer industry associations. The three-count complaint seeks declaratory and injunctive relief for restraint of trade in violation of Section 1 of the Sherman Act and Sections 4 and 16 of the Clayton Act. The second count focuses on Koch Industries, LLC and other Koch entities, for restraint of trade in violation of Section 7 of the Clayton Act, in connection with the acquisition of Iowa Fertilizer Company, LLC from OCI N.V. in 2024. White, Graham, Buckley & Carr, LLC of Independence, Missouri, is counsel to plaintiff (Book Farms v. Nutrien Ltd., No. 4:26-cv-00340-DGK (W.D. Mo. Apr. 22, 2026)).

Background. Book Farms, an independent family farm in Dixon, Illinois, has filed a putative class action for damages and injunctive relief against parties it has identified as involved in the NPK fertilizer industry. NPK fertilizers are those that combine nitrogen (N), phosphorus (P), and potassium (K).

The defendants include Nutrien Ltd. and Nutrien AG Solutions (collectively, the Nutrien defendants); The Mosaic Co. and Mosaic Fertilizer, LLC (the Mosaic defendants); CF Industries Holdings, Inc. (CF); Koch Industries, LLC, Koch AG & Energy Solutions, LLC, Koch Fertilizer Wever, LLC, Koch Agronomics Services, LLC, and Koch Fertilizer, LLC (the Koch defendants); Yara International ASA and Yara North America, Inc. (the Yara defendants); Cantopex Ltd.; International Fertilizer Association (IFA); and The Fertilizer Institute.

Antitrust allegations. The complaint defines the Nutrien, Mosaic, CF, Koch, Yara, and Cantopex parties as the manufacturer defendants. The complaint alleged these manufacturer defendants control around 90% of the respective nitrogen, potash, and phosphate markets in the U.S. The complaint contended the defendants entered into some form of agreement or conspiracy to limit supply and fix NPK prices at supra-competitive levels in the U.S., causing farmers like Book Farms to suffer injuries in violation of federal antitrust laws.

More specifically, the complaint alleges that the big 3 nitrogen producers, CF, Koch, and Nutrien increased their collective control of U.S. nitrogen capacity from about 70% to closer to 80% after Koch Fertilizer Wever, LLC (Koch Wever) acquired Iowa Fertilizer Company, LLC in or about 2024.

The complaint further alleges that the typical instability of farming input prices ended for fertilizer in 2008 when fertilizer prices rose steadily from that point and “failed to drop after the markets settled down.” Congressional and DOJ investigations of the defendants’ impact on the NPK fertilizer market and whether they engaged in anticompetitive behavior.

Defendant IFA is described as a global fertilizer association headquartered in Paris, France. IFA members allegedly decide matters of common interest, joint actions, and positions on issues facing the fertilizer industry. IFA membership benefits are said to include access to an “industry data sharing platform and to events.” The complaint alleges IFA has been an active participant in the alleged price-fixing conspiracy by facilitating the sharing of confidential, proprietary, and competitively sensitive information among the manufacturer defendants.

The Fertilizer Institute as a trade association for fertilizer manufacturers located in Arlington, Virginia. The complaint said The Fertilizer Institute likewise offers “market intelligence data” and recruits those who know how to calculate dues related to fertilizer sales. The complaint likewise accuses The Fertilizer Institute of being an active participant in the alleged price-fixing conspiracy at all relevant times by facilitating the sharing of confidential, proprietary, and competitively sensitive information among the Fertilizer manufacturers.

The complaint describes the following entities as “agents and co-conspirators” but does not caption them as defendants: OCI N.V. (OCI), a public Dutch company that produces and distributes nitrogen fertilizer, also formerly the parent of the Iowa Fertilizer Company; BHP Group Limited (BHP), a public Australian mining company that mines potash, among other minerals; and J.R. Simplot Company (Simplot), an international agricultural and food company.

The complaint alleges extensive facts describing “dramatic” NPK fertilizer industry consolidation over the past four decades. The complaint said the industry went from about 56 major nitrogen companies, 25 companies that mined phosphate rock, and 15 major potash companies operating in the U.S. and Canada roughly 50 years ago to three dominant companies today: Nutrien (potash), Mosaic (phosphate), and CF (nitrogen). The U.S. NPK fertilizer market has a Herfindahl-Hirschman Index (HHI) of 3,455 for potash; 4,553 for phosphate; and 2,382 for nitrogen.

Alleged indicia of collusion include: high market concentration increases; anticompetitive practices, like exchange of confidential information and the opportunity to do so through IFA and The Fertilizer Institute; high barriers to entry; inelastic demand; and motive and opportunity to fix prices. The complaint alleges a cartel arose in about 2020.

Class allegations. The complaint seeks equitable, injunctive, and other relief under the antitrust laws on behalf of all entities and individuals who directly bought NPK fertilizers from any manufacturer defendant in the U.S. from January 1, 2020 to the present. The complaint said the defendants have records to identify class members numbering in the thousands, making joinder impractical.

Tolling. The complaint calls for tolling of any statutory limitations period for fraudulent concealment of wrongful conduct. The defendants engaged in overt acts that were new and independent acts that continued and perpetuated the alleged price-fixing.

Counts. The complaint asserts a total of three counts, as follows:

1. Restraint of trade in violation of Section 1 of the Sherman Act and Sections 4 and 16 of the Clayton Act, against all defendants;

2. Restraint of trade in violation of Section 7 of the Clayton Act against the Koch defendants;

3. Declaratory and injunctive relief for violations of Section of the Sherman Act and Section 7 of the Clayton Act, against all defendants.

Relief requested. Book Farms requests the following relief for itself and all class members:

A. a determination of class action;

B. declaratory judgment that the defendants’ actions violated federal and state antitrust laws;

C. damages, treble damages, punitive damages, or restitution;

D. appropriate injunctive and other equitable relief;

E. pre-and post-judgment interest;

F. costs-of-suit, including reasonable attorney’s and expert’s fees, as permitted by law;

G. any other proper relief.

Book Farms also demands a jury trial.

The Case is No. 4:26-cv-00340-DGK.

Judge: Kays, G.

Attorneys: Bryan White (White Graham Buckley & Carr, LLC) for Book Farms.

Companies: Nutrien Ltd.; Nutrien AG Solutions; The Mosaic Co.; Mosaic Fertilizer, LLC

News: Antitrust MissouriNews