Tractor sales increased by nearly 11%, reports the VDMA Agricultural Machinery Association. Crop protection technology also recorded double digit growth and fertiliser spreader sales were up by 5.0%.
A major driver was sharp increase of grain prices during the second half of last year. “We are currently experiencing high demand for cereals worldwide,” says managing director Bernd Scherer of the VDMA. “This is not unusual in times of crisis stockpiling, although speculative expectations are also playing a certain role.”
The Frankfurt-based organisation expects the demand for tractors and agricultural machinery to rise again this year.