Farm equipment maker Escorts logs tractor sales at 12,533 units for June

Farm equipment manufacturer Escorts Agri Machinery (EAM) on Thursday said its tractor sales stood at 12,533 units for June.

The company sold 10,851 tractors in the corresponding month a year ago.

Domestic tractor sales stood at 11,956 units as against 10,623 units in June last year, Escorts said in a BSE filing.

Escorts Agri Machinery's exports increased to 577 units from 228 tractor units sold in June last year.

Escorts said the continued growth in its volumes and that of the tractor industry is a testament of resilience of rural and agri sectors.

"We remain optimistic for the rest of the fiscal year, as timely and expected above-normal monsoon, increase in MSP prices, and record direct procurement by the government is leading to a positive build-up of farmer sentiments.

"The commercial activity also is expected to gain further momentum in the ensuing months," the company said.