Pushed by strong demand of producers, favored by higher international commodity prices, the Argentinian Chamber of Agricultural Machinery Manufacturers (Cafma) reports that the sector has committed 99% of the orders that will take place until the end of the year.
Argentina’s National Institute of Statistics and Census (Indec) recently reported agricultural machinery sales in the country during the first quarter totaled AR$ 25.27 billion ($266 million). This is 93.4% higher compared to the same quarter of 2020.
AGCO has announced that with a recent update its industrial operations in South America, located in Brazil and Argentina, have reached their global level.
German shortline manufacturer Horsch announced in March an investment of R$200 million ($35.3 million) in a factory in Curitiba, state of Parana, located in the South of Brazil, after 7 years in the country.
AGCO (NYSE: AGCO) reported net sales of approximately $2.1 billion for the third quarter of 2019, a decrease of approximately 4.8% compared to the third quarter of 2018. Excluding unfavorable currency translation impacts of approximately 3.1%, net sales in the third quarter of 2019 decreased approximately 1.7% compared to the third quarter of 2018.
Escalating trade tensions between the U.S. and China is providing South American producers with opportunities to grow their market share in soybeans and other grains. This could lay the groundwork for increased farm equipment sales starting in 2019. In its most recent outlook, John Deere said it expects an improvement of up to 5% in South American machine sales in the year ahead.
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Today, we’re looking at Austria-based Pessl Instruments, an agtech provider operating under the METOS brand. Irrigation equipment manufacturer Lindsay Corporation recently acquired a minority interest in Pessl Instruments following a strategic partnership the 2 companies announced in May 2023.