Taiwan commits to $2 bln US corn purchase

The Taiwan Feed Industry Association has signed a letter of intent to purchase over 7.5 million tonnes of corn and 1 million tonnes of corn byproducts from the United States, valued at more than $2 billion, from 2026 to 2029. The agreement was formalized during the biennial Taiwan Agricultural Goodwill Mission, involving the US Grains & BioProducts Council (USGBC) and Taiwanese agricultural stakeholders, with former USGBC Chairwoman Verity Ulibarri in attendance.

The Goodwill Mission, initiated in 1998, has significantly bolstered the US market presence in Taiwan, maintaining its status as a top-10 export market for American farmers. “Beyond the billions in direct sales generated through letters of intent over the past 27 years, these missions build a foundation of trust between Taiwanese buyers and end-users,” said Michael Lu, USGBC director in Taiwan.

The mission’s initial days were spent in Washington, DC, where the delegation met with US lawmakers to discuss the importance of agricultural trade, along with US agricultural associations and the Taipei Economic and Cultural Representative Office in the United States (TECRO). After signing the letters of intent, the group split based on commodity specializations, with corn and corn byproduct buyers visiting Arkansas, Ohio, and Indiana before returning to Taiwan.

Taiwan prefers the quality and reliability of US feed grains, but with increasing competition from other origins, this program remains critical for US producers. “I look forward to the outcomes of these agreements and new opportunities to collaborate with key customers and decision-makers in Taiwan,” Lu concluded.

This deal aligns with broader trends in strengthening US-Taiwan agricultural ties. Previously, Taiwanese millers committed to US wheat purchases, while China set records for US corn imports. The mission underscores the strategic importance of such initiatives for global grain trade.

Tags: corn, USA, Taiwan