Taiwan buys wheat

A Taiwanese trade delegation’s recent trip to Idaho to sign a “letter of intent” to purchase $576 million worth of U.S. wheat over the next two years was much more than just a ceremonial pledge.

Taiwan has signed these intent letters to purchase U.S. wheat for four decades now and even though they aren’t contracts, they have followed through on every one of them. Similarly, U.S. and Idaho wheat farmers have consistently followed through on their pledges to provide that wheat.

Since 1998, Taiwan has purchased 833 million bushels of U.S. wheat worth about $6.4 billion. A good portion of the wheat Taiwan purchases comes from Idaho.

A Taiwanese agricultural trade delegation visits the U.S. every two years to sign an agreement to purchase a certain amount of U.S. wheat. They sign agreements in Washington, D.C., as well as several of the nation’s wheat-producing states.

Idaho wheat industry leaders were on hand Sept. 19 as a Taiwanese trade delegation gathered in Gov. Brad Little’s office to sign the latest agreement for Taiwanese flour millers to purchase $576 million worth of U.S. wheat over the next two years.