Taiwan importers sign US grain deals worth nearly US$3 billion

2017/09/18

A delegation of Taiwan grain importers inked letters of intent with U.S. agricultural associations to purchase 10.2 million tons of grain worth nearly US$3 billion Sept. 13 in Washington, according to the Taipei Economic and Cultural Representative Office in the U.S.

The procurement deals were sealed at the U.S. Capitol as part of the 11th Agricultural Trade Goodwill Mission, organized by Taiwan grain importers since 1998. The delegation, led by Deputy Minister of Agriculture Huang Chin-cheng, is touring the U.S. Sept. 11-22 to meet with local officials and grain exporters.

Stanley Kao, head of TECRO, said that such trade missions demonstrate the two nations’ close relationship as well as Taiwan’s commitment to mutual assistance for mutual benefits. He added that Taiwan imported U.S. agricultural products worth US$3.4 billion in 2016, making it one of the top destinations for U.S. food exports.

The delegation was received by 15 U.S. congressmen including Sens. Al Franken and Pat Roberts and Reps. Gregg Harper and Hank Johnson. During the signing ceremony at the Capitol, three letters of intent were concluded with the U.S. Soybean Export Council, U.S. Grains Council and U.S. Wheat Associates, respectively.

The delegation will separate into two groups, one consisting of soybean and corn importers and the other wheat importers, before continuing their U.S. tour. The former will travel to Iowa, Indiana and Missouri while the latter heads to North Dakota, Montana and Idaho to meet with local officials and exporters.

According to the Republic of China (Taiwan) Ministry of Foreign Affairs, Taiwan was the U.S.’s 10th largest trading partner and seventh largest export market for agricultural goods in 2016. During the same period, the U.S. was Taiwan’s second largest trading partner, supplying up to 25 percent of the nation’s imported agricultural products.

Source: Taiwan Today (http://taiwantoday.tw/news.php?unit=6&post=121596)