Rising Raw Material Costs Restrain the FM Manufacturing Activity!
Ag machinery manufacturing activity slowed in January, with various manufacturers reporting record-long lead times for raw materials, indicating that stretched supply chains continued to constrain economic activity early in the first quarter. As compared to the previous year, the rate of increase in raw materials and energy prices in the agricultural machinery industry reached 145% in steel, 127% in spheroid cast iron, 200% in plastics, 280% in energy, and labor force increased by 40% in January.
Global Sales of FM Goods to Contribute $1,3bn to the Turkey’s Economy!
According to the preliminary data, the farm machinery exports of manufacturing companies bring in about 1,3 billion dollars in 2021. Thus, Turkey’s exports spiked to 27.6 percent last year. Meanwhile, the FM industry ranked 6th among the 22 machinery sectors.
New Tech Project: Izmir Agricultural Technology Center Now on Stream!
Izmir Agricultural Technology Center (ITTM) is a project which aims at bringing together agriculture with technology under the leadership of the Izmir Commodity Exchange (ICE) and in cooperation with the Ministry of Agriculture and Forestry of the Republic of Turkey, İzmir Institute of Technology, Yaşar University, İzmir Chamber of Commerce, Aegean Region Chamber of Industry, Aegean Exporters' Association, İzmir Chamber of Shipping and Izmir Union of tradespeople and Craftworkers Chambers with guidance from the Izmir Development Agency.
The First Issue of Agrievolution Newsletter Available!
Please click to check out the first issue of the newsletter, which will be published periodically for the following periods by the Agrievolution Agricultural Machinery Manufacturers' Associations Global Alliance, of which TARMAKBIR is a founding member.
