According to a report from India Info Online, VST Tillers Tractors, an Indian farm equipment manufacturer, has signed an agreement with Export Trading Group to distribute tractors, tillage and harvesting equipment and diesel engines in the South African market.
According to a report from The Zimbabwe Mail, as part of an agreement between John Deere and the country of Zimbabwe to ship 1,300 tractors, 80 combines and other ag equipment with a total value of $50 million, the manufacturer has shipped the first 30 tractors as of April 11.
From The Herald, Zimbabwe currently requires 40,000 tractors and only has 12,000, of which 9,000 are functional and 3,000 require repairs. This deficit of farm machinery and implements has negatively affected agricultural production and productivity.
Shipments of more than $100 million worth of ag equipment from Belarus and the U.S. are expected to start arriving in Zimbabwe this month as the South African state aims to improve agricultural efficiency and productivity.
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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.