Farm machinery market to grow by 8%

THE Irish farm machinery market is expected to grow by 8% in value terms, to more than €490 million during 2007 compared with last year.

This is according to the Farm Tractor and Machinery Trade Association (FTMTA) in its analysis of the market for the year, released at the national ploughing championships.

FTMTA president Richard Harris said growth in new tractor sales, which has shown registrations grow to more than 4,500 units for the first eight months of the year, has been a major contributor to the growth in turnover within the sector.