In a fact sheet released July 14, the U.S. Department of the Treasury specified that there are no U.S. sanctions against "the exportation of agricultural equipment and spare parts to Russia."
John Deere announced its financial unit in Brazil had collaborated on a new entity named InovaBra. The ownership of the new unit will be shared with Bradesco, one of the largest retail banks in the country.
In June, the combined sales of tractors, harvesters and sprayers reached 774 units in Argentina or 11% more than the same month of 2021, according to the Argentinean Assn. of Automotive Dealerships (ACARA).
On June 29, Brazil’s national government announced its Crop Plan for the 2022-23 season. The plan, which is known as the Brazilian version of the Farm Bill, subsidizes farm investments aimed to increase productivity in the field.
Claas has announced plans to invest around €40 million over the next few years to expand and modernize a production facility in Bad Saulgau, Germany. This investment will improve the company’s overall production capacities to meet the increasing demand for the hay tools and forage harvester heads currently being produced at that plant.
Brazil’s Agriculture Minister, Marcos Montes, announced during a government event in May the resources for the Crop Plan, the government program that subsidizes farm investments, during the 2022-23 season.
On June 8, Bloomberg reported sales of all products to Russia from its normal trading partners — which accounted for one-half of all imports in 2021 — were down 40% in April.
According to a press release from Indian tractor manufacturer Escorts, the company "has received requisite approvals for the name change of the Company from 'Escorts Limited' to 'Escorts Kubota Limited' with effect from June 09, 2022."
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In this episode of On the Record, brought to you by Associated Equipment Distributors, we take an initial look at the Dealer Business Outlook & Trends Report and what dealers are forecasting for 2025.