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Deere & AGCO Lay Off Employees in Brazil

December 16, 2019 | Posted in Ag Equipment Worldwide
John Deere has laid off 150 employees from its factory located in Horizontina, Northwest of Rio Grande do Sul, Brazil. According to a local union, there were conversations about layoffs this summer. In September, Deere had hired additional workers at the plant.
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Brazil Banks Lower Interest Rates for Ag Loans

December 16, 2019 | Posted in Ag Equipment Worldwide
In November, the Brazilian Central Bank dropped the reference interest rate 0.5% to 5%. A new report from Bradesco, the second largest private bank in Brazil, suggests interest rates could fall again to 4.5% in December or January. For some major players, the transition from a subsidized market to a non-subsidized one will be difficult.
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Brazilian Manufacturers Seek New Funding for Ag Credit

With government financing for Brazilian farmers set to run out in March, manufacturers are seeking other options to keep growers’ equipment financed.
December 12, 2019 | Posted in Ag Equipment Worldwide
Source: Reuters
According to Reuters, agricultural machine manufacturers are working with banks in Brazil to avoid a repeat of slumping sales when public financing is expected to run out next year, said the head of John Deere Brazil.
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