Agriculture

  • Mahindra To Set Up New Plant for Farm Equipment

    Aditya Kondejkar

    Mahindra and Mahindra Ltd (M&M), market leader in the Indian tractor industry, is betting on farm equipment because of increasing demand. The decision is greatly influenced by the healthy agricultural output, record sales for tractors and reverse migration since last year.

    Read The Article

    PSR Analysis: The company is trying to enter the untapped farm mechanization segment in the country. According to Mr. Hemant Sikka (President Farm Equipment Sector Mahindra) this market has very high potential as India has only 1% share of the global farm equipment market vs. 10% of the global tractor market. 

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  • Jacto Announces New Plant in Brazil

    Jacto has announced a new 96,000 m2 plant that it will build by 2023 in Pompeia-SP – Brazil, the same location where most of its operations are already located. Fernando Gonçalves Neto, Jacto President, says the new and modern facility will sustain forecasted growth for several years.

    Source: M&T Magazine     Read The Article

    PSR Analysis: Jacto has been growing in importance with specialized products for high caliber agriculture in Brazil with sprayers, harvesters, and seeders.…

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  • Weichai Takes 60% Stake in Agricultural Equipment Maker

    Qin Fen
    Qin Fen

    Weichai Holding Group Co., Ltd., a leading Chinese powertrain manufacturer, has acquired a controlling stake in Lovol, one of the country’s major agricultural equipment makers.

    Source: Xinhua News Agency    Read The Article

    PSR Analysis: People look up to leading companies in industry because often times they are not just leading the trend, they are also setting an example of weathering the storm during crisis.

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  • NA Economic Outlook: Slower H1 2021, But Much Stronger H2 2021 Expected

    Yosyf Sheremeta
    Yosyf Sheremeta

    SUMMARY.  In our previous forecasts, we have discussed some hope for a V-shaped recovery, it did not materialize.  Our conclusion was based on several factors, such as the current economic cycle, overall strength of the economy, fiscal policy, political landscape in the US and globally, etc. After managing through the early stages of the pandemic in H1 2020, we saw good trends in H2 2020 and we had reasons to be optimistic for a quick recovery.

    However, the recovery took a slight pause during the last few months.  Unemployment continued to increase, and regional lockdowns prevented the necessary demand for a significant year-end growth.  Now that the elections are over, we’ll have yet to see what the new administration will be able to achieve during the next two years.  Specifically, if the long awaited infrastructure reform can be passed.  However, fiscal policy with near zero interest rates, which government has promised to keep in place for the near future, will provide a good platform for the economic recovery and allow us to look optimistically into 2021-2022.

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  • Increased Utilization Fees for Vehicles Planned

    Russian authorities plan to increase vehicle utilization fees in 2021, according to automotive sources.

    Utilization fees could be increased by as much as 25-30% for all types of vehicles, including special machinery, according to industry sources. This measure would be accompanied by a comparable devaluation of the national currency, which would reduce trade barriers.

    Utilization fees were implemented in 2012. It was always considered as a compensation of Custom’s tax reduce after Russia’s entry into…

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  • Tractor Companies Boost Output as September Sales Surge 80%

    For 18 months, tractor factories were working on a single or 1.5 shift basis at best because of demand slowdown. With numbers picking up, factories now are moving to two or three shifts to hit 100% capacity utilization. The capacity is currently 9.5 lakh units on a two shift basis, but we can also go to three shifts if the demand holds up.      Read The Article

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  • Yanmar To Analyze Data on Agricultural and Construction Equipment

    Yanmar Holdings announced it will begin operating Yanmar Synergy Square, a support base for monitoring the operational status of customers’ agricultural and construction equipment, beginning Oct. 19, 2020.

    Data will be collected and analyzed via communication from sensors installed on machines and equipment. It will suggest parts replacement and maintenance before they malfunction. It was built at a cost of 2.5 billion yen (23.8 million USD) and will be operated by Yanmar Global CS, a subsidiary of the company.

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  • Global Recovery: Opportunities and Challenges

    SUMMARY. The global economy, especially within the Engine, OEM and Components industries, has felt the immediate impact from COVID: assembly line shutdowns, labor issues, supply chain issues, logistics and transportation to name a few.  The pandemic has exposed many weak links in the global economic chain. However, by end of summer, most of these challenges were either completely resolved or temporary solutions had been put in place. 

    Yosyf Sheremeta
    Yosyf Sheremeta

    Diversification has become the theme during the pandemic recovery, and we expect this trend to continue.  Not only are companies looking for new markets and suppliers to grow top and bottom line revenue as well as to minimize risks, but we see a shift into new industries.  Furthermore, rapid developments of new technologies create massive opportunities for OEMs and suppliers as well as posing real threats to OEMs that solely rely on traditional products that are powered by fossil fuels. 

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  • Expansion of “Amkodor-Onego” Plant Started

    Currently construction at the plan includes rebuilding of warehouses and administrative buildings in preparation for installation of new crane equipment.

    Maxim Sakov
    Maxim Sakov

    “Amkodor-Onego” LLC was established by Belarus holding “Amkodor” in 2019 following the bankruptcy if the “Onego Tractor Plant”. The plant needed an investor, and “Amkodor” stepped up. “Amkodor” is going to create a site for assembly, and then – for import substituting full cycle production of forestry machines – harvesters, forwarders, etc.

    An investment contract was signed in June 2019. Under the contract, full modernization of the warehouses and major overhaul of the buildings are planned. Total cost of the project is estimated by US$ 220 million. The government of Karelia (Russian region) assumed the priority of the project and established several requirements.

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  • Rural Economy Helping Ride Out COVID Impact

    With extended lockdowns in most parts of India, the production of all non-essentials was at a halt or at minuscule levels in April and May until the economy was unlocked. This move reduced demand in the short-term, but owing to intrinsic domestic demand, we are optimistic about future business expectations

    Aditya Kondejkar

    Better Outlook of Rural Economy

    However, hope has arisen from India’s rural part as the agriculture sector appears to have been relatively less impacted by the lockdown. This part of the country never truly went into a harsh lockdown, and thus procurement, harvest, and consumer activities have remained unaffected. Farming continued during the lockdown, especially for rice and wheat cultivation. The return of migrant workers caused a surplus of agricultural labor. This resulted in the fact – more land was brought under cultivation than ever before. As a result, the country has witnessed a good season of rabi harvest.

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