Brazil’s Agriculture Minister, Marcos Montes, announced during a government event in May the resources for the Crop Plan, the government program that subsidizes farm investments, during the 2022-23 season.
On June 8, Bloomberg reported sales of all products to Russia from its normal trading partners — which accounted for one-half of all imports in 2021 — were down 40% in April.
According to a press release from Indian tractor manufacturer Escorts, the company "has received requisite approvals for the name change of the Company from 'Escorts Limited' to 'Escorts Kubota Limited' with effect from June 09, 2022."
Even with the worsening conflict between Russia and Ukraine, some South American companies have reported to have received more orders for agricultural machinery.
Agrishow, one of the largest agricultural fairs held in Brazil, has generated more than R$ 11.2 billion ($2.1 billion) in sales of machinery and agricultural machinery in April 2022.
The province of Buenos Aires, the largest Argentinian province, has launched a plan to boost the production of agricultural machinery and aims to reach 95% of the inputs used to assemble the machinery made in Argentina.
According to a report from Observator, Kharkiv Tractor Plant, a Ukrainian tractor manufacturer that suffered bombing during the initial invasion of Ukraine, has announced it will move production to neighboring Romania.
According to multiple reports, AGCO manufacturing facilities in Marktoberdorf and Asbach-Bäumenheim, Germany, as well as the company's plant in Beauvais, France, have either restarted production or plan to next week following last week's ransomware attack.
In an April 29 press release announcing an investment in the company's factory in Bad Saulgau, Germany, Claas said it would "discontinue the production of loader and forage transport wagons at the end of the 2022 season" to create additional capacity for ORBIS row-crop header production.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, we talk to a Solectrac executive about the company's search for a new investor. In the Technology Corner, Noah Newman talks about the majors' growing presence in the precision retrofit market.