'VICIOUS CYCLE': Pivot Bio CEO warns food prices could RISE as diesel costs climb

• Record-high diesel prices ($6.51/gallon today vs. $3.69 a year ago) are squeezing American farmers, especially during harvest.
• High diesel costs, along with rising fertilizer prices (up 20% in the last two weeks for 2027 purchases), are expected to drive food prices higher for at least a year.
• Farmers face unprecedented margin pressure, necessitating new technology and support programs to reduce input costs, such as nitrogen fertilizer alternatives.
• Energy Secretary rejects a total diesel export ban, but voluntary caps are being considered; however, the CEO believes market gimmicks won't solve structural issues.
• Pivot Bio offers a 'Pivot Pathways' grant program, including 'Trump Accounts,' to invest in rural America and support the next generation of farmers.

Pivot Bio CEO Chris Abbott warns that record-high diesel prices, currently at $6.51/gallon compared to $3.69 a year ago, are severely impacting American farmers during harvest season. This cost pressure, combined with rising fertilizer prices, is expected to lead to higher food prices for consumers in the coming year. Abbott emphasizes the need for innovative solutions and support programs to reduce farming costs and volatility.