Afgri sold 478 John Deere tractors

Agricultural services group Afgri sold 478 John Deere tractors and twenty seven combine harvesters, pushing its market share up to 31 % and 37 % respectively for the year ended October 2006, it said.

A total of one hundred twenty four tractors were sold in October alone, amounting to a market share of almost 60 % for that month.

"These record sales for Afgri are but the beginning of what we believe will be a far more profitable year for the agricultural sector in South Africa," said Afgri producer services chief executive officer Louis Smit.

Agricultural equipment sales dropped dramatically last year following the over production of maize in '04, which saw the price per ton plummet to R600. After farmer's planted 45 % less maize in 2005 in a bid to normalise supply and demand, the price firmed to around R1 200 per ton.

"We are confident that '07 will see continued good performance on the back of a more stable currency, as well as rising worldwide need for maize due to the growing demand for beef and mounting usage of biofuels such as ethanol," said John Deere managing director Mel McGlinchey.