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With sales already flat over the last few months on rising prices, high interest rates and lower farm incomes, tractor sales could face the most pressure from deficient rainfall. Incidentally, the tractor market has enjoyed a strong growth of up to 30 per cent in the last few years. If farm revenues drop on lower produce, farmers may cut down fresh expenditure.
Mr Rohtash Mal, ex-President of the Tractor Manufacturers’ Association and till recently the head of Escorts’ Agri-Machinery division, said that sowing has been lower this season as soil moisture has been affected. So, an approximate estimate of the harvest can be made in the next 10-15 days.
“There could be trouble in the tractor market. But, there is also a counter, farm labour is not available, plus the soil is hard, so farmers may need tractors more now. Middle to upper level farmers may be able to afford them,” he said.
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