Farmers take advantage of weak sterling with tractor imports up 13%
Published 07/11/2016 | 17:00
Latest statistics from the Central Statistics Office (CSO) show imports of tractors up a significant 13% in this year.
So far in 2016 some 1,564 tractors have been imported compared to 1,384 over the same month last year.
Meanwhile, the CSO figures show a dramatic drop off in new tractor licences in October. Tractor sales over the month slumped by 42% with just 71 tractors licensed last month.
Despite the fall off tractor sales so far over the course of 2016 remain marginally ahead of 2015. To date 1,778 new tractors have been licensed this year compared to 1,173 in 2015.
With the pound and the euro values coming closer to parity these days due to the threat of Brexit, there should be solid opportunity for southern farmers to get some bargains across the border in the North.