TNI || New Delhi || 6th Sept 2021
Escorts Agri Machinery, a manufacturer of farm equipment has reported a decline of 21.7% in tractor sales with 5693 units as of August 2021.
Overall, with domestic and export sales, it had sold 7268 tractors in the same period last year.
As per the company, the sales figures are not strictly comparable with last year as in 2020, the country had just come out of the COVID-19 nationwide lockdowns.
Escorts, in a statement, has said that as the country enters into festivals, they are seeing a strong farmer sentiment driven by favorable macroeconomic factors, of course, a good water level in the reservoirs, Kharif sowing, and continued government support in the Agri sector.
The company, however, adds that the inflation continues to sore and some parts of the country have witnessed a deficit in the rainfall in July and August and it remains to be seen what September has in store. The domestic sales in August saw a decline of 27.1% as compared to last year. That said, exports saw a growth of 49.2% in the same period as last year.