When Russia invaded Ukraine in February 2022, Titan Machinery’s Bo Larsen says the impact on ag equipment sales was felt almost immediately. For the first 2 years of the war, many farmers put off buying new equipment — sometimes due to a lack of income, and other times due to a lack of equipment availability. Regardless, those deferred purchases created some considerable pent-up demand among Ukrainian farmers, particularly large enterprises that tend to replace equipment every year or two.
“Our business was sliced in half that first year of the war,” Larsen relates. “Now, over the past couple of years, we’ve seen things continue to climb back to where we were before the war.”
A new report from Ag Equipment Intelligence examines the equipment needs the country will have post-war.
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