The largest manufacturer of agricultural machinery in Russia – the Rostselmash association – announced the suspension of production due to falling demand.
The company will stop production from June and forcibly send all its employees on leave to cut costs, Reuters reports .
Typically, the corporate vacation season at the association’s enterprises falls in August-September, the agency notes.
“This measure is forced and is due to the current economic situation in the agricultural sector. Farmers do not have the funds to purchase the equipment they need, which is leading to a significant market decline,” the company said in a statement.
Demand for agricultural machinery in Russia is falling due to expensive loans, driven by the central bank’s high discount rate. In addition, Russian agricultural producers are facing difficulties due to high export duties, as well as rising fuel and fertilizer prices, which make agriculture unprofitable in many regions of Russia.
According to Rostselmash, sales of Russian agricultural machinery manufacturers fell by 76% for combine harvesters, by 49% for forage harvesters, and by 48% for tractors compared to the same period in 2021.
As reported, since the fall of last year, Rostselmash has laid off about 2,000 employees.
In recent years, the leading Russian agricultural machinery manufacturer has been a beneficiary of the Russian agricultural boom. Thanks to cheap loans for Russian farmers, it has also successfully squeezed out foreign competitors, but the Russian government has curtailed most of its preferential lending programs in this area due to rising spending on the war in Ukraine. Джерело: https://censor.net/n3552870
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DOES NOT LOOK GOOD…………………………
Maybe Moskali invaders will eventually understand; no combines because there are no men which means no farmers which means no food?
No need for farm machinery when all the farmers have been sent to Ukraine to murder Ukrainians.
They can always get more food from their friends in North Korea…..oh wait….
Who needs these machines when you can build weapons instead? Just like the old Soviet Union, this soviet union is going broke.
They can’t steal it from Ukraine anymore, like they did in the Soviet Union, and that’s part of the problem today. Moskali think they are royalty and should have all their bitches do the work for them. Maidan brought a little reality into that equation.