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Financing enquiries for equipment and machinery from Australia s booming agriculture sector is at its highest, according to new Commonwealth Bank data.
Asset financing is currently sitting at a seven-year high as March 2021 recorded the third largest month for purchases of agriculture machinery since 2014.
The machinery has ranged from transport equipment, sowing and cropping equipment, tractors and harvesters.
Tractors purchasers are up to 78 per cent and harvesters up 88 per cent, compared to the same time last year.
Queensland demand has gone up by 47 per cent, with the Western Australian the highest demand with 83 per cent.
As farmers prepare for what is expected to be a significant winter crop production, upgrading old machinery has become a priority, with customers seeking to maximise productivity and take advantage of current government investment incentives, Commonwealth Bank s Executive General Manager of ....

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