“As we work to get Nebraska growing, we are actively seeking to strengthen relationships with markets in the Asia-Pacific region,” said Gov. Ricketts. “Taiwan has been a reliable trade partner and growing market for our world-class ag products. Its recent decision to remove trade barriers is great news for our cattlemen and pork producers.”
A year ago this month, Taiwanese trade leaders pledged to purchase over $2.1 billion of U.S. soybeans, corn, and distillers grain while on a trade mission to Nebraska. Specifically, the Taiwan Feed Industry Association signed a letter of intent to purchase 197 million bushels of corn and 0.5 million metric tons of U.S. distillers grains with solubles in 2020 and 2021. During the visit, the Taiwan Vegetable Oil Manufacturers Association also pledged to buy over 96 million bushels of American soybeans over two years.
Taiwan currently ranks as Nebraska’s seventh-largest market for agricultural exports, buying $229 million of Nebraska-grown ag products in 2018. Nebraska sells more corn to Taiwan than to Canada, China, or the European Union. Taiwan is also Nebraska’s fourth-largest Asian market for soybeans, ranking ahead of South Korea and Vietnam. Beef is Nebraska’s top ag export to Taiwan, at a value of more than $85 million in 2019.