Corn, Soybean Growers Sign with Taiwan

May 20, 2002

The National Corn Growers Association and American Soybean Association were involved last week in the signing of a joint memorandum with agriculture representatives from Taiwan. The joint communiqué is designed to increase bilateral trade and investment between the United States and Taiwan, and add momentum to U.S. free trade initiatives.

"Taiwan is an extremely important and loyal ally in the world market," said Biotech Working Group Chairman and Assumption, IL, corn grower Leon Corzine, who signed the agreement on behalf of the NCGA. "They are the third-largest international customer for corn and the second-largest customer of U.S. agriculture, and with this agreement, our relationship is only going to improve."

The two groups representing Taiwan were the Taiwan Vegetable Oil Manufacturers' Association and the Taiwan Feed Industry Association. As part of the agreement, the two groups will purchase 9.6 million metric tons (between 276 to 378 million bushels) of U.S. corn, barley and sorghum between now and Dec. 31, 2003.

Corzine said there would be many benefits stemming from the agreement. "Taiwan is a very important market and US corn growers want to continue to supply this market, and this agreement makes that commitment. "This is big for U.S. growers," concluded Corzine. "Despite Taiwan's geographical size, they have a major, modern economy. This is a great situation for us."