The agricultural machinery market continued to expand in the first half of the year

After the record of previous years, the agricultural machinery market continued to expand in Hungary in the first half of the year; farmers and agricultural entrepreneurs bought new machinery for 92.6 billion HUF in the first six months of 2019, and spent 25.4 billion HUF on parts, according to a report by the Institute for Agricultural Economics Research Institute (AKI).

New agricultural machinery sales increased by 10 percent, while part sales were 8 percent higher than a year before.

According to the Institute’s analysis, the increase in investment propensity is due not only to subsidized loan programs and favorable financing opportunities, but also to a change in entrepreneurial approach; demand is increasingly driven by needs rather than subsidies. (MTI)