Yes, lime can be used to help balance ph in soil”
The aim when attempting to adjust soil acidity is not so much to neutralise the pH as to replace lost cation nutrients, particularly calcium. This can be achieved by adding limestone to the soil, which is available in various forms: • Agricultural lime (ground limestone or chalk) is used for soil liming. These natural forms of calcium carbonate are probably the cheapest form of lime for gardening and agricultural use and can be applied at any time of the year. These forms are slow reacting, thus their effect on