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Taiwan delegation commits to make Ag purchases from Iowa

Representatives of Iowa and Taiwan meet to sign purchase agreement. (IARN Photo)

On Tuesday, a delegation from Taiwan known as the “Taiwan Agricultural Trade Goodwill Mission”, was at the Iowa Capitol to sign an agreement to make purchases of $2.6B worth of Iowa corn and soybeans. Representatives at the table for Iowa included Governor Kim Reynolds, Agriculture Secretary Mike Naig, Iowa Corn Promotion Board (ICPB) President Larry Buss, and Iowa Soybean Association President Randy Miller. The meeting was moderated by Brad Frisvold of the Iowa Economic Development Authority’s International Trade Office.

The agreement includes Taiwanese purchases of between 96 million and 107 million bushels of U.S. soybeans and 59 million bushels of corn between 2023 and 2024.

“Today’s letters of intent represent the next stage of Iowa’s longstanding, bilateral friendship with Taiwan,” said Gov. Reynolds. “They’re also powerful proof of Iowa farmers’ global reputation for high-quality agricultural production – and the enormous benefits that flow to our economy as a result. I’m deeply grateful to Taiwan for committing to Iowa, and I can’t wait to see where this relationship goes in the future.”

“Because of our rich natural resources and our productive farmers, Iowans are extremely proud to help provide safe, abundant, and nutritious food for consumers all over the globe,” said Iowa Secretary of Agriculture Mike Naig. “Our longstanding friendship and our growing trading partnership with Taiwan are positives for Iowa’s economy and farmers and we sincerely appreciate their letter of intent to purchase more corn and soybeans.” 

We caught up with ICPB President Larry Buss, and he offered his thoughts on the importance of this event for Iowa Ag in general and especially Iowa’s corn industry.

Buss commented that this meeting signals that Taiwan is not only interested in the quantity of Ag products, but the quality they get from Iowa.

Buss commented that despite some weather setbacks, Iowa will still have the products to meet these agreements.

Buss talks about the great trading partner has in Taiwan.

Taiwan is Iowa’s 12th largest trading partner, with 2021 exports estimated at $305 million in manufactured and value-added goods.

The Taiwan Agricultural Trade Goodwill delegation’s itinerary also includes visits to elected officials, agricultural producers and commodity groups, and university representatives in the United States.