Farm equipment manufacturer Escorts Agri Machinery on Tuesday reported a 33 percent rise in tractor sales to 10,165 units for November 2020. The company had sold 7,642 tractor units in November last year. Domestic tractor sales increased 30.9 percent to 9,662 units, against 7,379 sold in November 2019.
”The dealer and depot stocks continue to be low. Stock correction in the coming months would continue to push the industry upwards, supported by healthy water reservoir levels and a good harvest,” Escorts Agri Machinery said in a regulatory filing.
The company said the supply chain is still volatile but should improve going forward. ”We have taken a price increase this month to pass on the inflation in the commodity prices,” the company added.
Tractor export in November 2020 stood at 503 units, against 263 in the same month last year.
First Published: IST