Taiwan’s Agricultural Trade Goodwill Mission to visit U.S. to sign letters of intent

An Agricultural Trade Goodwill Mission from the Republic of China (Taiwan) is scheduled to visit the United States from September 11 to 23, 2005, with a stop in Washington, D.C. from September 12 to 15.

An Agricultural Trade Goodwill Mission from the Republic of China (Taiwan) is scheduled to visit the United States from September 11 to 23, 2005, with a stop in Washington, D.C. from September 12 to 15.

While there, the Mission will sign letters of intent to purchase as much as $3.1 billion worth of U.S. agricultural products over the next two years. After leaving Washington, D.C., the Mission will split into three groups: the soybean & corn group, the wheat group and the leather group. The soybean & corn group will visit Ohio, Indiana, Iowa, and Missouri, while the wheat group will visit North Dakota, Montana, and Idaho. The hide group will visit Texas and Kansas.

This Mission, led by Dr. Hsi-huang Chen, Chairman of Taiwan Grains and Feeds Development Foundation, consists of 17 members representing different agricultural interests in Taiwan. The Mission demonstrates Taiwan’s continuing interest in U.S. agricultural products, the quality of which has long been appreciated by Taiwan importers and consumers.

While in Washington, D.C. the Mission plans to visit the Department of Agriculture, the U.S. Grains Council, and the U.S. Wheat Associates, and call on members of U.S. Congress. On the morning of Wednesday, September 14 at Capitol Hill (Mansfield Room, S 207), the Mission will sign the letters of intent to purchase in 2006 and 2007 up to 14.5 million metric tons (equivalent to 559 million bushels) of U.S. wheat, soybeans and corn with U.S. grains exporters, as well as up to 6 million pieces of wet salted and wet blue cattle hide.

When the last Taiwan Agricultural Trade Goodwill Mission visited Washington, D.C. in 2003, it signed letters of intent to purchase 15.1 million metric tons (approximately 581 million bushels) of U.S. wheat, soybeans and corn, and 4 million pieces of hide, with a total value of close to $2.87 billion in 2004 and 2005. As of June 2005, Taiwan had already purchased 10.5 million metric tons (equivalent to 404 million bushels) of U.S. grains, along with 3.0 million pieces of U.S. hide in 2004.

Taiwan consumers have long appreciated high-quality American farm products. Between 1978 and 1993, Taiwan sent 18 procurement missions to the United States, resulting in the purchase of U.S. agricultural products worth $11.6 billion. These missions were discontinued in 1993 after trade liberalization measures rendered them unnecessary. Since then, Taiwan’s private importers have imported even more U.S. agricultural products. In 2004, Taiwan was the 7th largest overseas market for U.S. agricultural products.

In terms of per capita consumption, Taiwan is the world’s 2nd largest consumer of U.S. agricultural products. In particular, Taiwan is the 3rd largest overseas market for U.S. corn, the 5th largest for U.S. soybeans, and the 8th largest for U.S. wheat. In fact, U.S. grains account for 95% of Taiwan’s total grain imports.