Investment in machinery in the Agriculture sector increased significantly last year, totalling 51 billion HUF in the first 9 months, 68 percent more than in the previous year – announced Minister for Rural Development Sándor Fazekas in Budapest at the opening ceremony of the 30th AGROmashEXPO International Agriculture and Agricultural Machinery Exhibition.

Farmers also spent 16 percent more on parts and accessories, 26.5 billion HUF.

Sándor Fazekas told those present that the numbers and quality of agricultural machinery has grown significantly over the past ten years, with farmers investing 770 billion HUF on new machines and equipment. During this period, 30 thousand new tractors were purchased in Hungary, meaning 2.5 tractors for every 100 hectares of agricultural land. He added: in recent years, investment has increased significantly both in the mechanisation of agricultural crop production and in the animal husbandry sector.

The Minister reminded those present, that Hungarian agriculture concluded a successful year in 2011: according to preliminary figures the total output of the sector rose by 26 percent. The gross added value was 48 percent higher than in 2010, while the new corporate income increased by 75 percent compared to the previous year. It is a good sign that farmers have invested heavily in machinery and land.

The Minister also mentioned the fact that in addition to economic output, agriculture also plays an important role in employment. Thanks to the new, simplified employment regulations that cam into force last summer, the number of people employed in this way has doubled. While in July 2010 254 thousand seasonal employees were reported by corporations involved in agriculture and tourism, the figure for last year was more than double, 512 thousand.

Sándor Fazekas stressed that when the new foundations of agricultural policy were laid down in 2010, and important goal was to increase Hungarian farmers' trust in the fact that it was worth planning decades ahead into the long term. It is worth investing, modernising, purchasing machinery, it's worth keeping their estates – he stated.

The AGROmashEXPO trade exhibition and fair will be held between January 25 and 28 at the Hungexpo Exhibition Centre in Kőbánya, together with the Hungarian Garden, and the Viticulture and Viniculture exhibitions. Close to 200 corporations will be exhibiting their products on almost 20 thousand square metres of floor space, twice as much as last year.

(Press Office of the Ministry of Rural Development, MTI)