September 26, 2013

Taiwan committed to purchase five million tonnes US corn and 0.5 million tonnes of distiller's dried grains with solubles (DDGS) in 2014 and 2015.

The Taiwan Feed Industry Association on behalf of the Taiwanese Agricultural Goodwill Mission signed the letter of intent with the US Grains Council (USGC) on September 10 on the intended purchases which are estimated to be nearly US$4 billion, making Taiwan's letter of intent evidence of a US commitment to strengthen trade ties and maintain a well-established partnership with the nation.

"During the last 40 years, Taiwan has been one of the most import export markets for US coarse grains and products," said Julius Schaaf, USGC chair. "With Taiwan producing less than 1% of its needed grains, the US is able to be a major supplier to the nation. In 2011-12, Taiwan was the sixth-largest US corn market, the third-largest US barley market and the seventh-largest US sorghum market. The USGC is proud of the partnership we have had with Taiwan for many years and are excited for the possibilities that continue to grow from this partnership."

The USGC has played an integral role in building and sustaining close ties between the US and Taiwan. Even though US agriculture exports to Taiwan are facing increasing competition from other suppliers, the Council continues to offer customer service, through providing timely and objective market information and assuring the Taiwanese of the quality and reliability of US coarse grains and products. Through this relationship, Taiwan has remained one of the most stable markets for US agriculture.