A report of investment index in agricultural machinery (Idima), determined that the investment in Farm Equipment Last year it fell 27% compared to 2022; However, the opposite occurred with the equipment and industrial machines who perceived an increase of 10.7% during 2023, compared to the previous year.
According to Language – prepared by the firm Carle & Andrioli Public Accountants – based on information provided by the National Customs Directorate, The year 2023 was the year that interrupted the growth of investment in machinery in the agricultural sector, causing a drop of 27%.
Compared to previous years where the growth It was exponential: in 2019 it had grown 14%; in 2020, 12%; in 2021, 54%; and in 2022, 65%, last year the drought played a trick on the sector.
Within the report it was highlighted that the fall began in the month of March, while in the second period of last year it perceived a drop in investment by half when compared to the year 2022. The report detailed that the drop occurred in all categories being the tractors those that fell by 34%, the seeders 26% and combines another 20%.
In that sense, the values of investment During the year 2023 they were a total of 197 million dollars, while in 2022 they were around 263 million dollars. On the other hand, there was also a decrease in the investment per hectare planted, reaching 88 dollars per hectare in 2023, reflecting a decrease of 34% compared to 2022.
Causes and expectations
The reasons are due, first of all, to the adverse events that the agricultural sector during the year 2023 starring the worst drought that crossed the Uruguay in 100 years. On the other hand, a drop in prices in international markets was perceived, especially for soy and the wheat, Although there was an increase in rice.
However, analysts expect that this year the conditions for the agricultural sector improve. Marked by the overcoming of the drought and the reestablishment of financial balance, it is estimated that investment in Farm Equipment resume a better rhythm and that they can also improve their productive and economic performance through technology.
Good news for the industry
Although the agricultural sector has gone through a difficult year, the same did not happen with the industry. Marked by an increase in investment, the Investment Index in Machinery and Equipment (IMEQ) in the industry demonstrated an increase of 10.7% during the year 2023 compared to the previous year.
In that sense, if you take only the fourth trimester, The interannual increase was 6.3% despite registering a decrease of 0.1% during the third quarter of the year – July to September -.
As to IMEQ In general terms of the economy, a growth of 1.9% was perceived in 2023. Meanwhile, if those companies that are located in free zones are excluded, the growth was a total of 4.2%.
Source: Ambito
