September 23, 2005

US corn and soybean associations agree to trade with Taiwan

The US National Corn Growers Association and the American Soybean Association have reportedly agreed to a trade deal with Taiwan, during a recent Taiwanese trade delegation's visit to the US.

Under the agreement, the Taiwan Feed Industry Association and the Taiwan Vegetable Oil Manufacturers' Association committed to purchase about 300 to 400 million bushels of US corn and 100 million bushels of US soybeans during 2006 and 2007.

Officials from Taiwan's feed grains industry committed to purchase up to 10 million tonnes of US corn by the end of 2007, reports said.