WASHINGTON, DC, US — The 2022 Taiwan Agricultural Trade Goodwill Mission signed letters of intent to purchase $3.2 billion of wheat, soybeans and corn from the United States.
The agreements were signed with US Wheat Associates (USW), the US Soybean Export Council (USSEC) and the US Grains Council (USGC).
The Taiwan Flour Millers Association (TFMA) signed a letter of intent on Sept. 14 with US Wheat Associates to purchase 1.9 million tonnes of wheat from the United States over the next two years. The commitment is valued at $576 million.
“American farmers place great value on the relationship between US agriculture and Taiwan,” said Michael Peters, USW vice chairman and a wheat producer and cattle rancher from Okarche, Oklahoma, US, said during the signing ceremony. “We pride ourselves as being dependable partners who grow the highest quality agriculture products in the world. The TFMA and its members have been great trading partners who fully recognize the value of purchasing US wheat.”
Taiwan is the 6th largest US wheat export market and the 7th largest overseas market for US agricultural products.
Following the visit to Washington, DC, flour millers on the mission headed west to get a first-hand look at US wheat production and meet the people responsible for supplying wheat to Taiwan. The team is scheduled to visit wheat farmers in Kansas, Idaho and Oregon. Other scheduled stops also include the Kansas Wheat Innovation Center and the Port of Portland in Oregon.
The Taiwan group is led by Yi-Cheun “Tony” Shu, chair of the TFMA and of Formosa Oilseed Processing Co. Also participating is Dr. Ching-Cheng Huang, deputy minister of Taiwan’s Council of Agriculture.