Jim Rankin SAAMA Agri Hour 7 July
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Agricultural equipment retail sales might continue to be good in short term
National tractor sales in June this year showed a significant increase over units sold during the same period last year. This is according to Jim Rankin, secretary of the South African Agricultural Machinery Association (Saama), after a total of 414 tractor units were sold last month. This is 11% more than the 373 units sold in the same month last year. He says, however tractor sales so far this year are 6% lower than the corresponding period last year. OFM News' Christal-Lize Muller spoke to Rankin...
(FOR THE WEB: He says the year-to-date tractor sales stand at 2 513 units sold which is lower than the 2 683 units sold the same period (year-to-date) last year. In addition, the combine harvester sales in June this year were 17 units which is three units less than the 20 units that were sold in June last year. Rankin says however combine harvesters sales on a year-to-date basis are now 5% up on the same period last year.
The overall sentiment in the market continues to be positive and it is likely that sales will continue to be good in the short term as lower-priced stock is bought up. However, current industry sentiment is still that 2020 tractor sales will probably be up to 10% down on last year.
According to him there are two aspects driving the market at this stage. Against the backdrop of the weaker Rand, there is stock available that will sell at lower Rand value before price increases, when new stock is available. According to him, good crops are also being harvested at the moment.
National tractor sales in June this year showed a significant increase over units sold during the same period last year. This is according to Jim Rankin, secretary of the South African Agricultural Machinery Association (Saama), after a total of 414 tractor units were sold last month. This is 11% more than the 373 units sold in the same month last year. He says, however tractor sales so far this year are 6% lower than the corresponding period last year. OFM News' Christal-Lize Muller spoke to Rankin...
(FOR THE WEB: He says the year-to-date tractor sales stand at 2 513 units sold which is lower than the 2 683 units sold the same period (year-to-date) last year. In addition, the combine harvester sales in June this year were 17 units which is three units less than the 20 units that were sold in June last year. Rankin says however combine harvesters sales on a year-to-date basis are now 5% up on the same period last year.
The overall sentiment in the market continues to be positive and it is likely that sales will continue to be good in the short term as lower-priced stock is bought up. However, current industry sentiment is still that 2020 tractor sales will probably be up to 10% down on last year.
According to him there are two aspects driving the market at this stage. Against the backdrop of the weaker Rand, there is stock available that will sell at lower Rand value before price increases, when new stock is available. According to him, good crops are also being harvested at the moment.
