Agro-economic researcher: the agricultural machinery market continues to grow

Agricultural machinery market in Hungary continues to expand: Private holdings and joint ventures bought new machinery worth about 134 billion HUF in the first three quarters, which is a 3 percent increase, compared to the year before, according to the Institute of Agricultural Economics (AKI), according to which 43 billion HUF was spent on parts in the same period, 10 percent more than in January-September last year.

According to a sales report from 152 field machine dealers and manufacturers, a significant number of buyers buy machines using bank credit. The most popular source is the central bank’s preferential credit program, with most using the facility available under the NHP fixed-rate launch launched in January. (MTI)