Brazil soy boom spells bumper year for agricultural equipment

Brazil soy boom spells bumper year for agricultural equipment

Chamber Articles Category: Agribusiness Post Date: 05/08/18 Source: Reuters By: Marcelo Teixeira
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RIBEIRÃO PRETO, Brazil (Reuters) - Agricultural equipment makers in Brazil are banking on strong sales this year, boosted by a second straight bumper soy crop and rising grain prices, which will more than offset weakness in the sugar cane sector, they said at a major trade show.

Some machinery producers are forecasting sales growth as high as 8 percent in 2018 as farmers’ confidence rises and record-low interest rates encourage them to borrow and invest. Read Full Article