South Korea’s second biggest tractor maker — the LS Mtron division of LS Group — aims to ship $15 million worth of tractors to Iran this year with a view to expanding its presence in the Middle East and Africa.
FederUnacoma, the Italian Agricultural Machinery Manufacturers Federation, expects the downturn in farm machinery sales experienced by most countries to move into 2017, according to a release issued on Nov. 8, prior to the start of the EIMA ag equipment exhibition in Bologna.
The rapid growth of emerging markets worldwide is creating unprecedented demand for farm machinery, according to the Agrievolution Alliance, a global alliance of agriculture equipment manufacturing associations.
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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.