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Marketing & Media news

Tractor sales fall 8.4% in November

7 Dec 2012 09:17
Tractor sales slipped 8.4% to 554 units in November‚ compared with 605 units sold in the comparative period last year‚ South African Agricultural Machinery Association (Saama) data released on Thursday (6 December) showed.
However, for the year to date‚ tractor sales were‚ up 9.8% to 7‚565 units‚ from 6‚891 units in the same period last year.

Combine harvester sales declined 11.8% to 15 units in November‚ compared with 17 units sold last year.

For the year-to-date‚ 29,7% or 332 combine harvesters have been sold compared with 256 units sold last year.

The association said the outlook for agricultural machinery continued to be very buoyant‚ with fundamentals still looking good.

"Commodity prices are holding up well and with local and international grain stocks at relatively low levels‚ it is likely that current grain prices will be sustained. There was a delay in the start of the summer rains in the western and northern grain-growing areas and this will have caused some farmers in these areas to delay their purchases‚" it said.

"Industry predictions of tractor sales for 2012 are now estimated between 8‚000 and 8‚400 units. These figures are between 10% and 15% higher than the 7‚400 units sold last year," the statement said.


SOURCE

I-Net Bridge
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