Drop in Brazil farm machinery sales acceleratesStaff writer ▼ |
The decline lifted to 19.8% the overall pace of decline in the first half of 2014, on a year on year basis. It signalled that there may be more to the market decline than a series of one-off factors blamed for sales losses earlier in the year.
These factors included a 45-day delay in government funding for a popular programme offering low interest rates for the purchase of farm equipment, with the drought early this year seen as dissuading many farmers from machinery purchases too. ■