The Taiwan Feed Industry Association expressed its intent to purchase nearly $1.83 billion of corn and corn co-products from the U.S. in 2014 and 2015 as part of an agreement to foster mutual trade relations between the State of Michigan and Taiwan. The Michigan Department of Agriculture and Rural Development hosted the Agriculture Trade Goodwill Mission from Taiwan on September 16 in Lansing.
The corn purchasing agreement was reached with the Michigan Corn Marketing Program.
Taiwan not only committed to buying U.S. corn as a result of the trade mission, it also agreed to purchase Michigan soybeans. A bilateral trade commitment was reached between the Michigan Soybean Promotion Committee and the Taiwan Vegetable Oil Manufacturers Association, where the Taiwan association anticipates purchasing nearly $1.68 billion worth of U.S. soybeans in 2014 and 2015.
"I am excited for this new partnership between Michigan and Taiwan," said Jamie Clover Adams, Michigan Department of Agriculture and Rural Development director. "This provides a great opportunity for our Michigan corn and soybean growers and processors to forge new relationships and expand their export opportunities in the Taiwan market."