Statewide Iowa — (RI) — Officials from Taiwan and the Iowa Soybean Association gathered in the Iowa Capitol Monday for a ceremony to celebrate Taiwan’s agreement to buy one-and-a-half BILLION dollars worth of U.S. soybeans over the next 24 months.
Tim Bardole of Rippey is president-elect of the Iowa Soybean Association.
This year’s U.S. soybean crop is projected to set a record.
With this new agreement, Taiwanese officials say 90 percent of the soybeans they purchase will be grown in the United States.
The chairman of the Taiwan Vegetable Oil Manufacturers and the Iowa Soybean Association’s president-elect signed onto the “letter of intent” for Taiwan’s latest purchase of U.S. beans. Taiwanese officials formalized the deal in Washington, D.C. last Thursday.
The Taiwanese trade delegation made stops at Iowa farms over the weekend. On Sunday they visited a farm in northwest Iowa near Hinton. Congressman Steve King arranged for tours of farms near Nevada and Ft. Dodge, as well. King said he wanted the delegation to see for themselves the rolling acres of Iowa crops, and, as he says, “Let ’em know you can buy all the grain you can buy and we’re not going to run out here in Iowa.”
King says he and his staff have traveled to Taiwan several times to tout trade and he predicts even more U.S. soybeans will be shipped to Taiwan in the future.
According to King, the U.S. is now providing nearly 80 percent of Taiwan’s soybean supply. The move is likely part of Taiwan’s effort to strengthen ties to the U.S. as China increases pressure on Taiwan, which it claims as part of Chinese territory.
