A delegation from Taiwan has signed letters of intent to continue the country’s commitment to importing Indiana corn and soybeans in 2018 and 2019. The Indiana Soybean Alliance says the signing reaffirms a relationship that has been in place since 1998.
ISA board director Mike Koehne and Indiana Corn Marketing Council board director Dennis Maple signed the letters of intent with leaders from the Taiwan Vegetable Oil Manufacturers Association and the Taiwan Feed Industry Association during a ceremony at the Indiana Statehouse. Lieutenant Governor Suzanne Crouch, who is also Indiana’s Secretary of Agriculture and Rural Development, served as a witness to the signings.
"The letters of intent signed between our organization and the Taiwanese delegation reflect a desire to continue exporting our high-quality soybeans to Taiwan over the next two years," said Koehne, who is also a farmer in Decatur County. "International trade is a priority for Indiana soybean farmers because we know that it is key to sustaining strong markets for our high-quality products, and we look forward to continuing our trade relationship with Taiwan."
The ISA says Taiwan imported nearly $3.4 billion worth of farm products last year, which makes the country the seventh largest market for U.S. agricultural products overall and the second largest per capita.
"Maintaining strong ties with Taiwan is critical to farmers, agribusinesses and other sectors of our economy," said Crouch. "As the first state in the nation to open a trade office within Taiwan, trade missions like the one today strengthen our relationship and reaffirm our objectives toward the continual improvement of both of our economies."
The Taiwanese delegation also signed similar letters of intent with the governors of Iowa and Missouri.