Taiwan to buy US corn and DDGS

The Taiwanese Agricultural Goodwill Mission has signed a letter of intent on Thursday (Sept 24) with the US Grains Council for the purchase of US corn and DDGS.

Under the agreement, Taiwan will purchase 7.7 to 10.5 million tonnes of US corn in 2010 and 2011, and 500,000 to 750,000 tonnes of distiller's dried grains with solubles (DDGS).

The agreement is part of a longtime partnership between the Council and Taiwan, according to USGC Chairman Rick Fruth.

Since the first Agricultural Goodwill Mission in 1998, Taiwan has purchased more than 44 million tonnes of corn from the US, said Fruth.

Ken Hobbie, USGC president and CEO, said Taiwan initially bought most of its feed grains from other countries three decades ago, but now buys more than 85 percent of its 4.5 million tonnes of feed grains from the US.