According to CEMA in Europe new agricultural machinery is the top target for investments by farmers. Source: AFDJ eNews
Research by the JRC (European Commission’s in-house science service) showed that up to 2020 40.3% of farmers are planning to invest in machinery, far exceeding the willingness to invest in land or buildings.
The main benefits expected from new machinery are:
- improved working conditions on the farm;
- increase in the production quality.
Farmers also believe investments in new machinery and equipment will respectively contribute 52% and 24% to achieve these goals.
However, agricultural commodity prices and related farm income in the EU are currently at low levels. In line with this, European sales of new agricultural machinery have fallen in recent months.
In 2015, sales in the European markets represented by CEMA fell by around 7.5%. For 2016, sales are expected to remain weak at the same low level.