Worldwide production and sales of farm machinery are expected to decline by 10% in 2015, according to the VDMA Agricultural Machinery Assn. based in Frankfurt, Germany.
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.
Frankfurt-based VDMA Agricultural Machinery Assn. is forecasting global production of farm equipment will increase by 6% in 2013 compared with 2012, demonstrating continuing strength in the agricultural sector.
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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.