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Drop in Brazil farm machinery sales accelerates

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Staff writer |
Brazil tractorSales of agricultural machinery in Brazil came in at 5,398 units in June, down 21% year on year, according to Fenabrave, the country's vehicle distributors' association.

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.

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