Tractor sales revved up 16.8% year on year to 493 units in May according to the South African Agricultural Machinery Association (Saama). The May jump shows that farmers remain optimistic about future prospects, despite the South African economy entering a recession in the first quarter of 2017. The crop estimates committee, in its fourth estimate in late May, said the 2017 maize crop would rise by 101% compared with 2016 to a record 15.631-million tonnes. "Although these excellent crop prospects have had an adverse effect on crop prices, the overall sentiment in the industry is positive," Saama said. Industry expectations for 2017 are that overall tractor sales will be at least as good as those in 2016. However, in the first five months of 2017, tractor sales were down 0.3% year on year. In 2016, sales fell 11.3% to 5,855 units.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.