"The impending threat of significant price increases on agricultural equipment is probably driving the market in the short term. Farmers with the ability to do so will be buying current lower-priced stock in preparation for the forthcoming summer season. The early general rains helped a lot in preparing for the new season, but there has been little follow-up rain and conditions in the summer cropping areas are currently hot and dry" the industry body said.
"In these areas farmers are anxiously awaiting the onset of the rains. Short-term future equipment sales will depend on the availability of lower priced stock and weather conditions, particularly in the summer cropping areas" the industry body said.
Given the 30% drop in the maize harvest compared with last year, industry expectations are now that the 2015 tractor market will be 10% down on 2014. Sales in the first nine months of 2015 were down 8.4% y/y.
Source: BDpro
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