Escorts Agri Machinery Volume grew by 19.3 percent in April 2022

Market Times - market news
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Escorts Ltd Agri Machinery Segment (EAM) in April 2022 sold 8,325 tractors, our highest ever April sales, registering a growth of 19.3 percent as against 6,979 tractors sold in April 2021.

Domestic tractor sales in April 2022 were at 7,676 tractors registering a growth of 20.2 percent against 6,386 tractors sold in April 2021. With the ongoing harvesting in many states, better crop price realization as against the Minimum Support Price (MSP) due to current global geo-political environment, prediction of normal monsoon with likelihood of good rainfall in June and July leading to possible timely sowing this year, we expect next two months may witness strong retail sales.

While we have taken a price increase in April’22 but inflation pressure on the commodity prices continues and remains a key area of concern.

Export tractor sales in April 2022 was at 649 tractors against 593 tractors sold in April 2021, registering a growth of 9.4%.