TRACTORS REMAIN the most popular past and planned future farm investment, according to survey results.
THE National Farm Research Unit asked 15,000 farmers between 2001 and 2004 what their last investment was and what they planned to invest in next.
In 2004 32% of farms said their last investment had been in a new tractor, with 20% planning to do so in the future. This compares to 35% and 19% respectively in 2001.
Buildings were the next most important investment area, followed by implements such as ploughs and drills, said the NFRU‘s Jim Williams.
“This year the figures so far are looking positive, with 8% of farms investing in machinery as their last investment and 5% intending to do so as their next investment,” he said.
The results contrasted against only 1% of farmers intending to buy a new car as their next investment, Mr Williams concluded.