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Acquisition of agricultural machinery grows 54% from January to May

Posted by Rafael Moro

Image: Pixabay

According to the Brazilian Machinery and Equipment Industry Association (Abimaq), in May the sector presented a growth in net sales revenue of around 0.7% more than in April, thus indicating a recovery after the effects of the Covid-19 pandemic.

The interannual result, from May 2020 to May 2021, was equally positive and showed a strong growth of 46.1%. These growths occurred both in the domestic market (1.0%) and in the external market (7.3%). The domestic market suffered a sharp drop in investments due to the 2016 crisis, which explains the recent need for replacement and modernization and expansion of the industrial park. Between January and May, the purchase of domestic machines grew 54.0%.

And these numbers are only likely to grow, since the Federal Government recently launched the budget for the 2021/2022 Harvest Plan, where the amount allocated for investment and financing of machinery and equipment will be R$73.4 billion, an increase of 29% compared to the previous crop.

“A producer interested in buying his first agricultural machine, or even to exchange and upgrade his old machine, can hire rural credit”, comments Romário Alves, founder of the Sonhagro network.

By: Eliza Maliszewski | Agrolink

This text was automatically translated frm Portuguese.