Sales of farm machinery in a dramatic decline this year

Buenos Aires, August 10th. The Census and Statistics National Institute (INDEC as its Spanish acronym) released this week its report about farm machinery market, corresponding to the second quarter of the year. The figures show a dramatic sales declining, not only during the second quarter but in the first half of the year.

Sales of combines machines passed from 761 units in the first half of 2017 to 531 this year, i.e., a 30% drop. Tractors, from 4.137 units to 3,443, exhibiting a 17% drop. But declining was particularly dramatic on imported combines, where sales declined from 199 units in the 2Q of 2017 to 68 units this year. Sales of sprayers both self-propelled as pull-type, drop from 513 units in the first half of 2017 to 418 this year.

While the drought is widely cited as the cause by Governmental Authorities, from the industry also blames the high-interest rates, the lack of credit lines for farmers, the slide down of the Argentine Peso, and the uncertainty for the economic development. “Things have worsened since May due to the lack of credit”, the Chairman of the Farm Machinery Argentine Chamber, Raul Crucianelli, opines. The executive lamented that the Nation Bank had withdrawn subsidized credit lines for farmers and asked Government Authorities to raise the “national component” of the farm machinery to 60%, as Brazil do it. Crucianelli considers a key issue to staying alive the national farm machine industry suppliers.

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