Mordor Intelligence released an overview of orchard tractor market growth, trends, and forecasts for 2020-2025, segmenting the market by horsepower and geographical location.

Market Overview

Scope of the Report

For the purpose of this report, the tractors used in agricultural operations, especially Less than 20 HP, 30 HP, and 30-40 HP tractors are considered. Tractors used for orchards and garden purposes are included in the study.

• By Horsepower
  • Less than 20 HP
  • 20-30 HP
  • 30-40 HP
• By Geography
  • North America
    • United States
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • United Kingdom
    • France
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Australia
    • Rest of Asia-Pacific
  • South America
    • Brazil
    • Argentina
    • Rest of South America
  • Africa
    • South Africa
    • Rest of Africa

Key Market Trends

Rise in Technological Advancements is driving the market growth

North America is Dominating the Orchard tractors market

The continuous rise in farm labor wages due to labor shortage, especially in fruits and vegetable plantation has had a positive impact on the demand for tractors in this region, as farmers are increasingly adopting agricultural mechanization including tractors as a substitute for manual labor. The wave of modern technology has already been witnessed in orchard tractors with the application of Artificial Intelligence-based tools for data transmission, for precise decision-making processes in cultivation. The rise in technological advancements in orchard tractors coupled with the decline in farm labor shrinkage is driving the demand for orchard and garden tractors sales and is expected to grow further during the forecast period.

Competitive Landscape

The global Garden and Orchard type tractors machinery market is fragmented with the presence of many of regional players. Deere & Company, CNH Industrial N.V., Mahindra & Mahindra Ltd and Tractor, and Farm Equipment Limited are some of the global players who are operating in this market. Product Innovation and expansion are the key strategies adopted by these players to strengthen their presence in the global garden and orchard type tractor machinery market.

Major Players

1. Deere & Company
2. Kubota Group
3. CNH Industrial N.V.
4. Mahindra & Mahindra Ltd.
5. Tractor and Farm Equipment Limited

Source: Mordor Intelligence

The post Mordor Intelligence investigates on Orchard Tractor Market Trends and Forecasts for 2020-2025 appeared first on North America FarmQuip Magazine.

Today, Representatives Darin LaHood (IL) and Jimmy Panetta (CA) introduced the Providing Liquidity for Uncollectible Sales (PLUS) Act. This legislation provides a tax credit to offset uncollectable debt incurred as a direct result of COVID shutdowns. It is supported by the United Fresh Produce Association, the International Food Distributors Association, and National Fisheries Institute.

The foodservice distribution industry collectively experienced more than $12 billion in uncollected debts as restaurants and other facilities shutdown in response to the global pandemic and were not able to pay their distributors. Seafood distributors reported approximately $2.2 billion of debt owed to them, fruit and vegetable distributors hold an additional $5 billion in such debt, and broadline foodservice distributors reported more than $5 billion of debt.

“Produce foodservice distributors absorbed a devastating blow with the spring shutdown of the restaurant and hotel industry. The impact of lost inventory and unpaid bills is not recoverable,”

said Tom Stenzel, President & CEO of United Fresh Produce Association.

“I commend Representatives LaHood (IL) and Panetta (CA) for introducing the Providing Liquidity for Uncollectible Sales (PLUS) Act, a helpful solution to an insurmountable challenge for produce foodservice distributors and the companies on both ends of their business agreements.”

Foodservice distribution is a crucial part of the food supply chain, delivering fish, fruits, vegetables, meat, and other products to restaurants, schools, hospitals and long-term care facilities. Distributors provide not only food supplies but the essential financing their customers need to purchase these products. Restaurants buy their supplies on payment terms that allow them to generate revenue before the bill comes due, normally 30-60 days after delivery. In the aftermath of the sudden and near complete closure of the food-away-from-home channel, sales plummeted, customers were unable to pay their bills and distributors were left with more than $12 billion in debt.

“Family-owned seafood businesses support restaurants by providing fish on credit, but now are stuck with billions in debt owed them by these customers,”

said John Connelly, President, National Fisheries Institute.

“This legislation will significantly help revive a complex system that brings seafood from water to table. If we don’t have functioning distributors bringing seafood to market, fish will simply rot on the dock, effecting everyone from boat owners to restaurateurs.”

While many of the provisions of the CARES Act provided critical assistance for foodservice distribution companies, it did not account for the biggest issue they face: large, unpaid debts owed to distributors for food that restaurants could not use due to COVID-related shutdown orders. Tax credits for this $12.2 billion in outstanding debts will provide the liquidity distributors need to continue to extend credit to their restaurant customers and help them get back on their feet as the economy restarts.

“The PLUS Act would provide tax credits for uncollectible accounts receivable, ensuring that distributors can continue to provide assistance to their restaurant customers,”

said Mark S. Allen, President & CEO of the International Foodservice Distributors Association (IFDA).

“I applaud Representatives LaHood and Panetta for their commitment to the foodservice distribution industry, a vital part of our economy.”

Foodservice distributors themselves suffered more than a 50 percent decline in sales due to the global pandemic, making it difficult to provide the financing their customers depend on to run their businesses; jeopardizing restaurants’ ability to purchase food and ingredients. Without restaurants and other places where people eat out, the economy will be missing a significant part of the $1 trillion food-away-from-home economic driver. The PLUS Act provides a solution to this complicated and critical challenge for the food supply chain.

Source: United Fresh Produce Association

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