A trade team from Taiwan visited Iowa in the US recently and signed letters of intent to purchase USD 2.8 billion worth of US grains over the next two years. The deal includes corn, soybeans, wheat and corn DDGS.
Mark Heckman, Director of the Iowa Corn Promotion Board (ICPB) signed the letter of intent between ICPB and the Taiwan Feed Industry Association, outlining the intention by the Taiwanese to purchase 5 million tonnes of corn and 0.5 million tonnes of DDGS between 2018 and 2019, at an estimated value of USD 1.05 billion. “Taiwan is an important buyer of US corn and co-products,” said Mr Heckman.