If you’re looking for a boost to your agri operation in 2024, there is new farming machinery hitting the Australian market which may assist. As equipment investments typically require funding, the changes happening at the Reserve Bank of Australia (RBA) are important to stay across.
We’ve compiled details of a few of the new machines, how to get the best rates and most suitable credit facilities for their purchase and provide an update on changes at the RBA which affect the timing of interest rates decisions. Timing which may influence when operators choose to apply for funding for upgraded equipment.
New Farming Machinery for 2024
Quite a few machines are scheduled to make their Australian market debut this year. Units from well- known brands and from overseas brands fairly new to our market. Many of these will be displayed at upcoming field days and shows. But operators that are keen to move sooner can review the details including availability dates and arrange their finance through Jade at any time.
The Amazone ZG-TX combi spreader allows operators to spread fertilisers in granular form up to 54 metres and to spread lime up to 16 metres. The switch from one to the other is actioned with just a few simple adjustments. Providing versatility to the operation. Loads more features to check out.
Available through Croplands the Stara Imperador Sprayer 4000 is made in Brazil, a country with a huge agricultural sector. The features noted are the 26m boom which is mid-mounted to provide better application; the 4000 litre capacity; underframe clearance of 1.6m; and many more. The company, Stara, is the largest manufacturer of farm machinery in Brazil and this machine has undergone extensive Australian testing. Speak with Croplands for more information.
Also through Croplands is Magrowtec technology to assist with spraying. They are experts in spray tech from Ireland and have brought their magnetic assist tech to Australia. The technology claims to reduce the costs of spraying and is available as a kit to retrofit on boom sprayers.
Two new tractors in the Steiger range are due from Case IH this year. A new range of tractors to also come to Australia are from Fendt. For those looking for a new skidsteer, check out the latest compact model from Kubota, the SVL75-3.
Just a few ideas which may increase your potential, improve productivity and save costs on your property.
Timing Changes to RBA Interest Rates Decisions
When it comes to changes in the financial sector for 2024, the major news relates to the RBA. As most will be aware, there was a Review of the Reserve Bank carried out with recommendations made to the Treasurer and the Bank board late last year.
One of the changes being implemented as a result of that Review is the timing of when the RBA Board meets and makes decisions on monetary policy and interest rates. Instead of the usual monthly decisions, from February 2024 the decisions will be made every 6 weeks.
There will also be a change in the process for making those decisions with two days set aside to discuss economic indicators and issues with relevant staff and other officials before the Board makes their final decision. The RBA Governor, Ms Michelle Bullock, will then hold a media conference to announce the decision and provide the RBA’s forecasts and insights.
The change means less rate decisions each year. The move from 11 to 8 rate decisions each year may have significance for operators seeking equipment finance from a number of perspectives. It can provide longer time intervals between any increases or cuts for operators to make vital acquisition decisions and take action on applying for new equipment loans.
For operators that are also dealing with property loans, the change represents less chances for their mortgages to change each year. Potentially providing for improved budgeting especially for those that need to juggle personal and business financial commitments. An issue which can affect many small producers, contractors and sole traders.
Supporting Farmers with Best Rates Loans for New Farming Machinery
Jade Equipment Finance supports agricultural sector operators with the best rates, terms and conditions on loans to acquire new farming machinery.
The agricultural sector is a major focus for our business, and we support farmers and other operators with affordable farm and agricultural equipment financing. In addition to offering the full selection of credit facilities – Lease, Commercial Hire Purchase, Chattel Mortgage for Equipment and Rent-to-Own, our accreditations with over 80 lenders provides access to the best interest rates.
If you’re interested in boosting your operation with upgraded machines, brief one of our brokers and allow us to handle the entire funding process. Sourcing the most suitable lender, the best rates and structuring a tax optimise solution with a repayment schedule to suit your projected cash flow.
For support in sourcing the best rates on new farming machinery finance contact Jade Equipment Finance on 1300 000 003 for quotes.
DISCLAIMER: IF MISINTERPRETATIONS, MISREPRESENTATION OR ERRORS EXIST IN THIS ARTICLE, NO LIABILITY IS ACCEPTED. THE INFORMATION IS PROVIDED ONLY FOR GENERAL PURPOSES AND NOT IN ANY MANNER INTENDED AS THE ONLY SOURCE FOR MAKING FINANCIAL DECISIONS. THOSE THAT CONSIDER THEY REQUIRE ADDITIONAL GUIDANCE OR ADVICE SHOULD REFER TO AN INDEPENDENT FINANCIAL ADVISOR.