Strong machinery sales hint at recovery in South African ag sector
"As farmers harvest their crops, they are better able to estimate their production," said Lucas Groenewald, the association's chairman.
"Although crop prices are depressed because of the record yields, they are better able to make considered decisions on buying equipment."
At industry group AgBiz, Wandile Sihlobo noted the 20 combines sold last month, flagged that, while up just one unit year on year, this did represent the best June figure since 2014.
That was a "season that was also characterised by a bumper crop," Mr Sihlobo said. "This shows that a large harvest does boost farmers' confidence to invest in equipment."
Presently, South Africa's crop estimates committee pegs the country's soybean harvest at a record 1.34m tonnes.
source: agrimoney.com
