Taiwan is a consistent importer of U.S. agricultural products, particularly coarse grains and co-products, for more than four decades. The U.S. Grains Council thinks there is even more potential in what it calls a “reliable, long-standing trade market.”
That’s why USGC members and staff took part in a recent trade mission to Taiwan. The organization’s goal was to connect targeted Taiwanese buyers with U.S. suppliers and help them capture additional demand for U.S. products.
USDA Foreign Ag Service Administrator Ken Isley led the trade trip, saying Taiwan and the U.S. have a long-standing and favorable business relationship. Taiwan is a perennial top ten importer of U.S. corn and the U.S. maintains a 75 percent market share. During the current marketing year, Taiwan has purchased 43.3 million bushels, more than three times the amount during the same period last year.
The United States also accounts for 95 percent of the DDGs imported by almost all large feed mills in Taiwan. While Taiwan is considered a “mature market,” there is still new demand potential existing in Taiwan for U.S. ethanol imports.