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Tractor sales set to moderate after highs in 2022
Farmer's Weekly
|10 February 2023
Sales of agricultural machinery are not expected to reach the record highs of 2022 this year, as inflation rates and high input costs weigh on farmers.
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This was according to Agbiz, which recently reported that tractor sales in South Africa grew 17% year-on-year in 2022 to reach 9 184 units, the highest annual sales figure for the past 40 years.
It added that combine harvester sales during the same period amounted to 373 units, up 38% from 2021. This was the highest yearly sales figure since 1985.
Dawie Maree, head of agriculture information and marketing at FNB, told Farmer's Weekly that the lower interest rates over the past two years had given farmers a reprieve from their debt, and this had enabled them to buy new machinery.
This story is from the 10 February 2023 edition of Farmer's Weekly.
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