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Tractor sales fell 12.2% y/y in Jan '15 to 555 units: Saama

10 Feb 2015

Tractor sales fell by 12.2% year on year (y/y) to 555 units in January 2015 after easing by 2.5% in 2014 to 6‚464 units‚ according to the South African Agricultural Machinery Association (Saama).

Tractor sales fell 12.2% y/y in Jan '15 to 555 units: Saama

Saama said summer rain had been very patchy in the last few weeks and some areas‚ particularly in the west‚ had not had the follow-up rain they needed for the maize crop to realise its full potential. Expectations for the current maize crop have therefore been reduced in the light of these adverse weather conditions. This is reflected in the domestic maize price which has risen in the last two weeks.

Farmers were consequently holding back on their purchases of agricultural equipment‚ at least until they have a better idea of the prices they will get.

The international Food and Agricultural Organisation Cereal Price Index fell by 3.6% in January from December. The index is now at its lowest level since July 2010 and is 34% below its June 2008 peak.

Source: BDpro

Source: I-Net Bridge

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