The agricultural machinery market closed a record year last year

Last year, the agricultural machinery market reached record sales. According to data from the Agricultural Research Institute (AKI), new agricultural machinery was purchased in the value of 175 billion HUF in 2018, 15 percent more than in the previous year.

According to the announcement of the Ministry of Agriculture (AM) sent to MTI on Friday, farmers also spent 11 percent more on spare parts, in a value of a total of 49 billion forints. The expansion was supported by investment subsidies, favorable financing opportunities, increasing profitability of agricultural production and income replacement subsidies. (MTI)