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 “We thank Taiwan for their continued support of the state’s
agriculture industry,” said Governor Bruce Rauner. “Agriculture
helps our state secure a strong position in the global economy.
We look forward to a long, continued relationship with our
friends from Taiwan so that together we can help feed the
world.”
The 18–member delegation is visiting several states to
demonstrate goodwill to further a long-standing trade
relationship between Taiwan and the United States. The letters
were signed at the Harford family farm in Mazon between
representatives from the Illinois Corn Marketing Board and
Taiwan Feed Industry Association and Illinois Soybean
Association and Taiwan Vegetable Oil Manufacturers Association.
“Today’s ceremony speaks volumes for the strength of the corn
and soybean industries in Illinois,” said Director Philip
Nelson. “Over half of Illinois’ corn and soybean crops are
exported each year and we want to continue to grow our exports
by working with important trade partners such as Taiwan.”
"The United States remains one of Taiwan's
largest sources of agricultural products, regularly supplying
one-fourth of our overall agricultural imports,” said Deputy
Minister, Council of Agriculture, Mr. Chen-taung Wang. “As of
2014, Taiwan was the seventh-largest market for U.S.
agricultural products worldwide, making it one of the world's
largest consumers of U.S. farm goods on a per-capita basis.
Taiwan also ranks as the seventh-largest market for U.S. corn
and the fifth-largest market for U.S. soybeans."
The Taiwan Vegetable Oil Manufacturers Association signed a
letter of intent to purchase between 96 million and 107 million
bushels of soybeans in 2016 and 2017 from the U.S. The value of
these purchases is estimated to be between $1.13 billion and
$1.26 billion. It’s believed that based off current market
prices Illinois stands to bring in an estimated $133 million
thanks to Taiwan’s purchase of Illinois soybeans.
“Taiwan represents one of the top three export markets for
Illinois soy, which we have seen firsthand,” said Daryl Cates,
Chairman of Illinois Soybean Association from Columbia,
Illinois. “The Illinois Soybean Association is committed to
growing our relationships with our customers in Taiwan and value
their support. Today’s signing ceremony represents the next step
in this growing partnership.”
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The Taiwan Feed Industry Association signed a letter of intent to
purchase 197 million bushels of corn and 0.5 million metric tons
of corn co-products in the years of 2016 and 2017 from the U.S.
The value of these purchases is estimated to be about $1.23
billion. Illinois’ share of that, based off current market
prices, is an estimated $116 million.
“Many corn farmers in Illinois have had some challenging weather
this year, but we’re on track to harvest a high quality corn
crop that’s waiting to be exported,” said Jim Raben, Illinois
Corn Marketing Board Chairman from Ridgway, IL. “It’s always
important to maintain and grow our relationships with such
markets as Taiwan. They are valued trading partners and
represent an important part of the business we do as corn
farmers.”
The group also toured a northern Illinois farm and an Elburn
Cooperative grain elevator facility in Morris. The barge loading
and truck receiving facility has the capacity to store 685,000
bushels of grain.
In 2014, Illinois soybean production ranked first in the nation
at 548 million bushels, which was a record high for the state.
Additionally, corn production ranked 2nd in the nation at 2.35
billion bushels, topping the previous record of 2.28 billion
bushels in 2007.
[Illinois Department of Agriculture]
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