October tractor sales up 3.1%: Saama

9 Nov 2012

Tractor sales rose by 3.1% to 1‚009 units in October‚ according to figures released by the South African Agricultural Machinery Association (Saama).

For the year to date‚ tractor sales are up by 11.5% to 7‚011 units‚ from 6‚286 tractors sold in the same period last year.

Combine harvester sales declined by 24.4% with just 34 units being sold in October.

So far this year, 317 combine harvesters have been sold, 32.6% more than the 239 units sold last year.

The association said the market for agricultural machinery continued to be buoyant with market fundamentals 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. Rains in some summer cropping areas‚ particularly in the east‚ have enabled farmers to start planting and these crops are looking good at present‚" Saama said.

Saama expects that about 8‚800 units will be sold this year, significantly higher than the 7‚400 units sold last year.

Source: I-Net Bridge

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