Eric Hansotia on agricultural economics
From Iran war was a ‘double whammy’ for farmers, AGCO CEO says · · Fox Business
“We are coming to year at the bottom of the business' cyclical industry, then the Iran war there was a double whammy, fertilizer and diesel prices spiked up, farmers on the back foot.”
On , Eric Hansotia, Chairman, President & Chief Executive Officer at AGCO CORP, spoke about agricultural economics during Iran war was a ‘double whammy’ for farmers, AGCO CEO says on Fox Business.
About Eric Hansotia
Eric Hansotia, chairman and CEO of AGCO, said in a May 2026 interview on Fox Business that farmers globally are under financial strain. He described the situation as a "double whammy" for farmers, citing the Iran war as a factor that caused fertilizer and diesel prices to spike. Hansotia noted that North American farmers are being hit "more uniquely" by a combination of tariffs and the price spikes from the Iran war. He stated that AGCO's business hit a bottom in 2025 and that the company expects a recovery in 2027 due to pent-up demand and an aged fleet of equipment, alongside the launch of 14 new precision agriculture products. Hansotia also discussed regional differences in farming conditions. He said Europe has the least cyclicality due to government subsidies, while North America is operating at about 70% capacity and South America is the most volatile due to high interest rates and currency fluctuations. Regarding fertilizer, he explained that while spring planting was largely unaffected because fertilizer was pre-bought, the summer and next fall will see a "big impact," likely reducing the amount of crops grown.