Officials from Taiwan agreed to purchase 66 million bushels of wheat from U.S. farmers over the next two years during a state visit this week.
The grain deal, which is worth approximately $576 million, will be fulfilled significantly by Kansas wheat farms.
The Kansas Departments of Agriculture and Commerce hosted a Taiwanese Wheat Procurement Signing Ceremony at the Kansas Capitol Friday as part of the current Taiwan Agricultural Trade Goodwill Mission. Representatives from the Taiwan Flour Mills Association (TFMA) and Taipei Economic & Cultural Office (TECO) were included in the event.
“Last year, Kansas’ agriculture exports surpassed $5 billion for the first time in history. Our farmers, ranchers and producers are contributing mightily to the state economy – and solidifying our status as a global powerhouse in agriculture,” Governor Kelly said.
Since 1998, Taiwan has dispatched a total of 13 agricultural trade missions to the U.S. in an effort to strengthen trade relations. This year’s mission included a to visit Washington, D.C. and select agricultural states, including Kansas, to demonstrate Taiwan’s intention to continue purchasing quality wheat from the United States.
The TFMA and the Kansas Wheat Commission signed a joint letter of intent Friday morning related to Taiwan’s purchase of 66 million bushels of wheat in 2023 and 2024. While a significant portion of this commitment will be from Kansas farmers, the terms, quantities, prices and conditions for the purchase and sale of wheat will be negotiated privately between the individual importers and suppliers.
In 2021, Taiwan was the fifth largest export market for Kansas agricultural commodities – with the procurement of more than $224 million of Kansas agricultural goods including beef, oilseeds, cereal grains and wheat flour.
Taiwan Agricultural Trade Goodwill Missions take place every two years and demonstrate Taiwanese consumers’ preference for top-quality U.S. agricultural products.
