Date:17.09.2014Time:09:31
profi Tractors and Farm machinery for farmers and contractors
Source:http://www.profi.com/news/Tough-times-for-Irish-machinery-sector-38904.html

Tough times for Irish machinery sector

Tough times for Irish machinery sector

The Irish farm machinery industry is facing its most challenging circumstances for many years, according to Eamonn Tinney Jnr, president of the Farm Tractor and Machinery Trade Association (FTMTA). Speaking at the FTMTA's annual general meeting, Mr Tinney said: "The collapse of the construction sector, which had become a substantial market for us in recent years, has presented difficulties. Unfortunately, this has coincided with a period in which all areas of our core market, agriculture, are under immense pressure. The drop in agricultural commodity prices, when combined with the rapid decline in opportunities for off -farm income, has reduced the purchasing power of our customers." The FTMTA president added that the continued weakness of sterling against the euro has brought with it a dramatic increase in the level of imports of used machinery from the UK and in particular from Northern Ireland. This has resulted in a situation where often the only way to get a sale is at substantial discounts to the purchase price, a serious threat to the profitability of many farm machinery businesses.


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