Tractor sales rose by 1% y/y in Feb to 605 units: Saama
Tractor sales rose by 1.0% year on year (y/y) to 605 units in February after falling by 12.2% y/y to 552 units in January 2015 following an annual 2.5% drop in 2014 to 6‚464 units‚ according to the South African Agricultural Machinery Association (Saama)...
Saama said February sales had been above market expectations‚ with some farmers buying for tax relief purposes.
© rootstocks – 123RF.com
"The rain which was essential for maize crops in some areas did not arrive in time and these areas will have suffered significant losses.
"This has caused some nervousness in the market‚ with farmers being unsure of what their crops will yield. Those farmers with good crops will benefit from the good current maize prices‚ up from earlier this year‚" the body said.
An emergency national drought task team meeting is scheduled for mid-March 2015 to discuss the drought conditions.
Source: BDpro