Chinese Market for Ag Equipment to Grow 6.8% a Year Through 2012

Demand for farm machinery in China is expected to grow to $17.3 billion in 2012, according to a new study from the Beijing office of The Freedonia Group, a Cleveland-based industry research firm. The 6.8% annual growth is also easily outpace growth in most other parts of the world. Gains will be supported by government efforts to speed up agricultural mechanization as well as rising income levels rise in rural areas.

Changing demographics in the…

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