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Government tenders boost tractor sales, Saama
According to Business Live, South African Agricultural Machinery Association (Saama) data showed that tractor sales rose 43.5% to 528 units last month, compared with 368 units sold in the comparative period of 2011. Tractor sales were up 38.3% to 2,763 units, from 1,998 units in the same period last year.
Combine harvester sales rose 52.4% to 64 units in April, compared with 42 units recorded in the previous comparable period. Market fundamentals remained positive, Saama said in a statement.
"Recent deliveries on government tenders continue to give the market a boost," the statement said, adding that the market is still very competitive. "Crop prices are still holding up well, with stock levels being finely balanced between supply and demand. This will have a bearing on crop prices as local and international grain stocks are quite low." Business Live reports that industry predictions for tractor sales for the 2012 calendar year are currently between 6,700 and 7,300 units, almost 10% down on 2011 sales.
Read the full article on www.businesslive.co.za.
