JEFFERSON CITY — It was an honor to host Taiwanese agricultural leadership in Missouri last week. The agriculture delegation spent several days touring Missouri farms and wrapped up their visit with a letter of intent signing ceremony at the Missouri Department of Agriculture on Thursday.
Taiwan has been an important international market for Missouri for more than two decades. In partnership from the Missouri Corn Merchandising Council and Missouri Soybean Merchandising Council, the group spent the week with some of Missouri’s producers in an effort to reaffirm this strong trade legacy.
During the ceremony, Missouri and Taiwan agreed that:
- The Taiwan Vegetable Oil Manufacturers Association intends to purchase 2.6 million to 2.9 million MT (equivalent to between 96 million and 107 million bushels) of soybeans between 2018 and 2019. The value of these purchases is estimated to be about $1.1 billion to $1.2 billion (USD), including a significant amount produced in the state of Missouri.
- The Republic of China (Taiwan) Feed Industries Association intends to purchase 5.0 million MT (equivalent to 197 million bushels) of corn and 0.5 million MT of corn coproducts (distillers dried grains with solubles) between 2018 and 2019. The value of these purchases is estimated to be about $1.05 billion (USD), including a significant amount produced in the state of Missouri.
To learn more and watch the signing ceremony, click here.
— Missouri Department of Agriculture
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