Canadian Farmers Look to Upgrade Equipment

Dealers, manufacturers and suppliers of agriculture equipment expect a harvest season at least as good as last year’s, which should positively impact equipment sales, according to survey results released by GE Capital’s Commercial Distribution Finance Canada (CDF).

More than two-thirds (77%) of the respondents expect the harvest season to be the same or better than last year, while 20% expect it to be worse. A similar majority of respondents (78%) characterized the seeding season as the same or better than last year, while 18% thought it was worse.

“The cold spring temperatures resulted in a late seeding season, which will put pressure on farmers to harvest quicker this year,” said Howard Shiebler, president of CDF’s Canada business. “Reliable equipment is critical when the harvest season is compressed, so many farmers will upgrade their equipment to ensure a successful harvest.”
The majority of survey respondents felt that their inventory levels were about the same (48%) or higher (38%) than last year, with just 12% feeling their inventory is lower.

“Dealers are really paying attention to their inventory levels this year and will need to be adequately stocked if demand rises,” said Shiebler.

The survey was conducted June 17-19 at the annual Farm Progress Show in Regina, Saskatchewan. Respondents were dealers, manufacturers and suppliers based in the provinces of Alberta, Saskatchewan and Manitoba. S