Arkansas Secretary of Agriculture Wes Ward and Arkansas Secretary of State Cole Jester with members of the Taiwanese delegation at the Letters of Intent signing at the Arkansas Department of Agriculture on Friday, September 19. (Photo Credit: Will Newton)
Arkansas Gov. Sarah Huckabee Sanders announced an agreement with Taiwanese agricultural associations that is expected to generate $5.56 billion in purchases of U.S. and Arkansas farm products over the next four years.
Sanders signed two letters of intent outlining Taiwan’s plans to buy corn, corn products and soybeans between 2026 and 2029. The Taiwan Feed Industry Association intends to purchase about 7.5 million metric tons of corn and 1 million metric tons of corn products, valued at roughly $2.12 billion. The Taiwan Vegetable Oil Manufacturers Association committed to acquiring at least 6.5 million metric tons of soybeans, estimated at $3.44 billion.
“Today’s announcement is great news for Arkansas and especially our row crop farmers, who need all the assistance they can get right now,” Governor Sanders said. “I’m incredibly grateful to Secretary Ward, the entire Arkansas Department of Agriculture team, and our Taiwanese partners for collaborating on this multi-billion-dollar investment.”
Final terms, including pricing and conditions, will be set directly between importers and U.S. suppliers.
Taiwan is the United States’ eighth-largest agricultural trading partner and ranks fifth for Arkansas. The country imported nearly $3.7 billion in U.S. farm products in 2024, with Arkansas exports accounting for about $63.2 million.
WebReadyTM Powered by WireReady® NSI