Tractor sales hit rough patch
File: A tractor seen on a farm. AFP/Sergey Bobok JOHANNESBURG - The tractor market faces tough terrain, with July sales plunging 31 percent year-on-year.…
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File: A tractor seen on a farm. AFP/Sergey Bobok
JOHANNESBURG - The tractor market faces tough terrain, with July sales plunging 31 percent year-on-year.
July marks the third straight month of declining sales, as rising input costs and mounting El Niño drought fears squeeze farmers.
After several strong buying seasons, the tractor replacement cycle is losing steam.
Yet fields remain primed for a strong harvest, with South Africa’s grain and oilseed output set to rise 4 percent.
Meanwhile, combine harvester sales surged 83 percent in July.
Looking ahead, tractor sales may stall as rising costs and drought fears weigh on the sector.