Governor Sarah Huckabee Sanders today announced the signing of two Letters of Intent (LOIs) with Taiwan’s leading agricultural associations, signaling a combined commitment of at least $5.56 billion in purchases of Arkansas and U.S. agricultural products between 2026 and 2029.
The Taiwan Feed Industry Association intends to purchase 7.5 million metric tons of corn and 1 million metric tons of corn products, valued at approximately $2.12 billion. Additionally, the Taiwan Vegetable Oil Manufacturers Association has committed to purchasing at least 6.5 metric tons of soybeans, with an estimated value of at least $3.44 billion. Final terms, prices, and conditions will be negotiated directly between the individual importers and U.S. suppliers.
“Today’s announcement is great news for Arkansas and especially our row crop farmers, who need all the assistance they can get right now,” said Governor Sanders. “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. All around the world, Arkansas is being recognized for the agricultural powerhouse that it is.”
Source : arkansas.gov