Taiwanese Trade Team Visits Missouri,
Agrees to Purchase Soybeans
FOR IMMEDIATE RELEASE: October 2, 2009
Contact: Adam Buckallew (573) 635-3819
JEFFERSON CITY, Mo. - The Missouri Soybean Association (MSA) hosted members
of a Taiwanese trade delegation in Jefferson City today as part of a
goodwill mission designed to further a important trade relationship.
The Taiwanese trade team traveled to Missouri to get a first-hand look
at the state's crops and to sign letters of intent for the purchase of
soybean and corn products.
During a signing ceremony in the office of Governor Jay Nixon, the delegation's
leader Paul M. H. Sun, said the agreement will ensure millions of dollars
of Missouri soybeans will be purchased during the next two years. The
letter of intent states that the Taiwan Vegetable Oil Manufactures Association
and the Taiwan Feed Industry Association will buy between 3 million and
3.2 million metric tons (110 million and 118 million bushels) of U.S.
soybeans. The value of this purchase is estimated to be worth between
$1.35 billion and $1.44 billion.
Kelly Forck, a soybean farmer from Jefferson City and president of the
MSA, hosted members of the trade delegation at his farm.
"
We are honored to host the trade delegation from Taiwan," said Forck. "Every
other row or about half of our soybean production is sold in the export
market and Taiwan has been one of our longstanding trade partners. The
MSA has had a trade office in Taipei, Taiwan for 10 years and we look
forward to continuing to build on our friendships and business relationships
that we have established."
In 2008 the United States exported 33 million metric tons or 1.21 billion
bushels of soybeans, up 11 percent from the previous year. The United
States has also exported 299 million bushels of soybean meal. Exports
have accounted for 54 percent of the U.S. crop in the 2008-2009 fiscal
year.
Taiwan is the fourth-largest export market in the world for U.S. soybeans.
Sun said U.S. farmers are Taiwan's largest supplier of agricultural products..
The Taiwan Agricultural Trade Goodwill Mission also included visits to
Illinois, Indiana, Iowa and Washington, D.C.
The MSA is a statewide membership organization providing a collective
voice in representing interests specific to the Missouri soybean producer
through legislative advocacy, influencing public policy and communication/education
to and for its members in order to increase profitability for Missouri
soybean farmers.
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