Companies in this industry are seeing growth due to increased demand resulting from higher commodity prices and farm incomes along with strong demand in international markets. Drought conditions in 2012 led to an increase in commodity prices, showing the importance of efficient mechanical irrigation and driving up demand for irrigation equipment. The demand for this equipment in the near future would be determined by farmer sentiment based on weather conditions, commodity prices, a strong economy that supports agriculture, and government encouragement for water conservation projects.
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