The new EU regulation is actually a set of new machinery standards, and it went into effect Jan. 1, 2016 though it wasn’t extended to all new tractors put on the market (regardless of whether they were new or used) until the beginning of 2018.
VDMA points to increasing prices for major agricultural commodities, particularly for grain, and rising agricultural exports fueled by depreciated national currency as creating favorable conditions in Russian agriculture. However, the Russian ag machinery market has been subjected to the pressure of lower demand, as well as economic and regulatory risks.
Over the last year or so there’s been a flurry of merger and acquisition activity among equipment manufacturers, particularly when it comes to shortline or specialty equipment.
After averaging an annual growth rate of 11% since 2009, worldwide ag equipment sales are expected to take a breather this year, according to Frankfurt, Germany-based VDMA Agricultural Machinery Assn.
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In this episode of On the Record, brought to you by Associated Equipment Distributors, Deere Director of Investor Relations Josh Beal told JP Morgan analysts that the OEM is confident it will be “producing to demand” in fiscal year 2025.