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May Q&A: Available now
This month, the Making Sense team answers client questions related to trade policy developments and their impacts on key economic issues.
There are times when the already-volatile agricultural industry faces even more uncertainty than normal. Beyond the ebbs and flows of the global marketplace—which spins commodity markets along with international trade conditions, supply and currency issues—extreme weather and swings in input costs can also deplete anticipated cash flows.
Toss in the broad unknowns of the COVID-19 pandemic, and fear and drastic economic measures can further turn agriculture markets upside down. Amid the turmoil, the farm equipment leasing market, which can help agricultural machinery manufacturers navigate a way to profitability, may soften.
If your company has scrambled to navigate a path to profitability, adjusting your lease offerings could be in order—especially because your machinery will likely continue to be essential to the industry in the long term.
Especially amid a pandemic, disrupted supply chains, trade wars and volatile demand for biofuels can throw the entire agricultural world into disarray. This may prompt many producers to put off new investments.
In addition, leasing volumes can also be hindered by:
However your manufacturing business relies on leasing arrangements, conditions like these will likely curtail activity.
Despite the recent uncertainties, the farm equipment industry's prospects look bright. Food and biofuel demand is expected to only increase worldwide, pushing farmers to generate greater yields from an assortment of crops.
To enhance their hands-on expertise, many farmers are turning to advanced machinery, tapping innovations in:
Plus, as the farm labor landscape is largely defined by fewer workers demanding higher wages, many farmers handling thousands of acres rely on increased mechanization.
As you contend with the near-term pressures on farm equipment leasing trends, consider the advantages for your customers:
To fully capitalize on the evolving opportunity, ensure that your leasing processes and practices are designed to respond to customer demand, including elements such as:
A third-party financial institution can help you assess the potential reach and capacity of your leasing business. Consider partnering with a bank that has proven agribusiness expertise and can help you navigate the changes in this complex field.
This material is for informational purposes only and is not intended to be an offer, specific investment strategy, recommendation or solicitation to purchase or sell any security or insurance product, and should not be construed as legal, tax or accounting advice. Please consult with your legal or tax advisor regarding the particular facts and circumstances of your situation prior to making any financial decision. While we believe that the information presented is from reliable sources, we do not represent, warrant or guarantee that it is accurate or complete.
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