Agrishow, one of the largest agricultural fairs held in Brazil, has generated more than R$ 11.2 billion ($2.1 billion) in sales of machinery and agricultural machinery in April 2022.
In March, Brazil’s President Jair Bolsonaro, issued national guidelines banning states from restricting activities related to the agricultural sector due to the coronavirus.
After facing complaints from farmers and ag machinery companies about the scarcity of credit, Brazil’s National Bank for Social and Economic Development (BNDES) announced that it would make an additional R$536 million (approx. $135 million) for the acquisition of agricultural machinery and implements during 2018-19.
AGCO used one of Brazil’s largest and most popular ag equipment exhibitions, Agrishow, to announce the company will begin selling Fendt machinery in Brazil.
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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.