In June, the Brazilian government launched its Crop Plan for the 2021-22 season with R$251.2 billion ($48.2 billion) released in subsidized loans available to agricultural producers.
As Brazil’s Anfavea stopped releasing sales numbers by the end of last year, the market now can only rely on quarterly data divulged by the country’s National Federation of Distribution of Automotor Vehicle (Fenabrave).
Magazine Luiza, a retail giant in Brazil recognized for selling a wide variety of products, has decided to attend the growing demand of the agricultural sector for credit in the country.
The Brazilian National Assn. of Vehicle Manufacturers (Anfavea) released new numbers on tractor and grain combine sales for the month of October in Brazil. The number of tractor units sold reached 3,362 in the period.
The Brazilian National Assn. of Vehicle Manufacturers (Anfavea) reports August wheel tractor sales reached 3,558 units in the month — a 5.4% drop compared to July. But year-over year, wheel tractor sales improved by 6.7% vs. August 2019.
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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.