The 2019 Taiwan Agricultural Goodwill Mission visited Washington, DC, last week as part of their biennial pledge to continue purchasing U.S. corn and U.S. distiller’s dried grains with solubles.

Taiwan signed a memorandum of understanding committing to purchase 5 million metric tons (197 million bushels) of U.S. corn and 500,000 tons of U.S. distiller’s dried grains with solubles (DDGS), extending their stable buying commitment for another two years while in the United States.

The members of the Goodwill Mission also signed letters of intent to purchase soybeans and wheat. The team is part of a long-term effort to maintain economic ties between Taiwan and the United States.

Taiwan has grown into a top 10 market for U.S. corn, a goal achieved with the support of the U.S. Grains Council’s work with the feed and livestock industries there since 1973.

The Goodwill Mission has been organized by the Taiwan Economic and Cultural Representative Office (TECRO) every other year since 1998 and allows Taiwanese participants to gain familiarity with U.S. coarse grains’ yield, production and quality. The Goodwill Mission also provides education on the advantages of U.S. coarse grains and co-products as well as reconfirms the commitment by the United States to serve as a long-term, reliable supplier for Taiwan.

“The recurring Goodwill Mission continues to demonstrate the commitment the two partners have to continued purchases and heightened confidence in U.S. agricultural products,” said USGC Chairman Darren Armstrong.

Taiwan is the eighth largest market for U.S. agricultural products, led by U.S. grains, with a total value of $4.3 billion dollars in 2018. According to the U.S. Department of Agriculture’s Foreign Agricultural Service, Taiwan purchased 3.21 million metric tons (126 million bushels) of U.S. corn at a value of $593 million in 2018, with U.S. corn holding a 76% market share.

Source: U.S. Grains Council, which is solely responsible for the information provided and is wholly owned by the source. Informa Business Media and all its subsidiaries are not responsible for any of the content contained in this information asset.