According to a news release from the Indiana State Department of Agriculture, the Taiwan Feed Industry Association signed a letter of intent centred on corn purchases with the Indiana Corn Marketing Council as part of the Taiwan Agricultural Trade Goodwill Mission. A soybean-centred letter was signed between the Indiana Soybean Alliance and the Taiwan Vegetable Manufacturers Association.

 

The letter states that Taiwan will purchase nearly US$2.12 billion of US corn and corn products from 2026 to 2029. In that same amount of time, Taiwan is expected to purchase between US$3.44 and US$4.2 billion of US soybeans.

 

"Selling our corn and soybeans around the world keeps Indiana's farm economy strong," said Lieutenant Governor Micah Beckwith, Indiana's secretary of agriculture, in the release. "These agreements mean more markets for the crops our farmers work hard to grow, and they show that other countries count on Indiana to deliver quality corn and soybeans year after year."

 

Officials said continuing to develop relationships and expand markets like Taiwan is "key for economic growth" for the Indiana agriculture industry. This comes as the relationship between Taiwan, the United States and Indiana has "grown significantly in various aspects in recent years."

 

"For Taiwan, the US is a reliable agricultural product market, which ensures food security as well as food supply chain resiliency," said Wen-Jane Tu, Taiwan's deputy minister of agriculture, in the release. "Taiwan firmly believes that the events today will further strengthen the rock-solid ties between Taiwan, Indiana and the US, based on our shared values of fundamental freedom and opportunity, fair trade, and a deep love of peace and prosperity for our people."

 

The release said that the ceremony was witnessed by Indiana Gov. Mike Braun, Beckwith and Indiana State Department of Agriculture Director Don Lamb, who served as official signatories for Indiana.