By Andi Anderson
Indiana agriculture received a major boost as Governor Mike Braun and Taiwanese delegates signed letters of intent committing Taiwan to buy nearly $6.4 billion worth of Indiana corn and soybeans over the next four years.
The agreements, finalized at the Indiana Statehouse, underscore Taiwan’s continued reliance on U.S. grain for at least a quarter of its agricultural imports.
Governor Braun called the deal a landmark for Indiana’s farm economy, describing the state as an agricultural powerhouse and stressing the need for more international trade relationships.
Lieutenant Governor Micah Beckwith praised Indiana farmers for consistently delivering high-quality crops, noting that the partnership with Taiwan will strengthen markets and provide long-term benefits for both regions.
Under the agreements, Taiwan plans to purchase about $2.12 billion of corn and corn products and between $3.44 billion and $4.2 billion of soybeans between 2026 and 2029. The letters of intent were signed by the Indiana Corn Marketing Council with the Taiwan Feed Industry Association and by the Indiana Soybean Alliance with the Taiwan Vegetable Oil Manufacturers Association.
This new pact follows a similar agreement in 2019, when industry leaders highlighted how vital international trade is for U.S. grain, corn, and soybean farmers. U.S. producers grow more than domestic markets can absorb, making global buyers essential for sustaining farm incomes.
Beckwith emphasized that selling corn and soybeans around the world keeps Indiana’s farm economy strong and shows that countries like Taiwan count on Indiana to deliver quality year after year. Last week, Taiwanese groups also signed agreements to purchase corn and soybeans from Arkansas farmers, reinforcing their commitment to U.S. agriculture.
The Indiana-Taiwan trade relationship reflects a shared commitment to reliable supply and enduring partnership, ensuring stable markets for Hoosier crops and supporting farm families for generations to come.
Photo Credit: gettyimages-studio2013
Categories: Indiana, Business