Iowa soy exports to China, Taiwan seen to remain strong

Iowa Agriculture Secretary Bill Northey said on Monday (Apr 6) he is optimistic Iowa soy exports to China and Taiwan will remain strong despite the worldwide recession.

Northey said parts of China have been hard hit by manufacturing production shutdowns that will negatively impact some US imports, but added that demand for meat products like pork and chicken and livestock feed remains constant - which is good news for Iowa farmers.

He said some feed manufacturers and soy crushers in China that are having trouble keeping up with production demand that is increasing by 10 percent to 20 percent each year, adding that demand far outstrips the country's ability to grow enough grain domestically to keep up.

He noted that 75 percent of Taiwan's soy imports are from the US while China splits about half between US and South American soy imports.

He also said farm exports have bolstered US grain prices and helped cushion Iowa's as the recession deepens.