Agricultural News
Taiwan Flour Millers Tour Oklahoma Wheat Industry During Trade Mission That Saw the Millers Pledge to Buy 66 Million Bushels of US Wheat
Mon, 23 Sep 2019 06:03:48 CDT
Representatives of Taiwan's Flour Mill Industry traveled to Oklahoma this past week, learning about the Oklahoma wheat industry. The team were interacted with Oklahoma State University wheat researchers, toured the Food and Ag Producers Center on campus in Stillwater, visited the Farmers Coop Association and Elevator in Ponca City, Oklahoma and spent time on the Don Schieber Farm just west of Ponca City in Kildaire.
While on campus Friday, the delegation participated in a signing ceremony with Oklahoma Secretary of Ag Blayne Arthur pledging to work closely with the Oklahoma wheat industry (See the text of the agreement below). Ahead of that signing ceremony, Radio Oklahoma Ag Network Farm Director Ron Hays talked with the Country Director in Taiwan for US Wheat Associates, Bo-Yuan Chen. You can hear their conversation describing what Taiwan buyers want when they buy from the United States- as well as what wheat flour is used for in Taiwan- click on the LISTEN BAR at the bottom of this story.
Earlier in the week in Washington, the Taiwanese trade team signed a more specific agreement with US Wheat. That letter states that Taiwan Flour Millers Association intends to purchase a total of 1.8 million metric tons (equivalent to 66.1 million bushels) of U.S. wheat between 2020 and 2021. The value of these purchases is estimated to be around $576 million.
The picture here shows Oklahoma Secretary of Ag Blayne Arthur sitting with the Executive Director of the Taiwan Flour Millers Association Tony Yi-Cheukn Shu as they prepare to sign the agreement.
Here's the full text of the Agreement as signed by both countries in Stillater:
This Memorandum of Understanding is made and entered into by and between the Taiwan Flour Mills Association (hereinafter the "TFMA"), the Oklahoma Department of Agriculture, Food & Forestry (hereinafter the "ODAFF") and the Oklahoma Wheat Commission (hereinafter the "OWC" and, together with the TFMA, are collectively referred to as the "Parties", and is effective as of September 20, 2019.
WHEREAS, (Taiwan) and the United States enjoy a close and longstanding partnership built on a shared dedication to freedom, democracy, and a market economy;
WHEREAS, the Parties wish to foster greater mutual understanding and cooperation so as to strengthen their trade relations and friendship;
WHEREAS, Taiwan sent 18 procurement missions to the U.S. between 1978 and 1993, resulting in the purchase of U.S. agricultural products worth U.S. $11.6 billion, and the enhancement of friendship and mutually beneficial trade relations between the two countries;
WHEREAS, with U.S. agricultural exports enjoying an excellent reputation in Taiwan, a total of 12 Taiwan Agricultural Trade Goodwill Missions have been sent to the U.S. since 1998, resulting in the importation of 21 million MT (equivalent to 772 million bushels) of wheat from the U.S. worth a total of U.S. $5.8 billion;
WHEREAS, Taiwan imported nearly US $4.3 billion worth of U.S. farm products in 2018, making it the eighth largest market for U.S. agricultural products overall, the second largest on a per capita basis, and the fifth largest market for U.S. wheat;
WHEREAS, due to its high quality produce, the U.S. remains one of Taiwan's largest sources of agricultural products, supplying one-quarter of the country's major agricultural imports;
WHEREAS, the various bilateral mechanisms and exchanges, including the Trade and Investment Framework Agreement (TIFA), the Digital Economic Forum (DEF), the SelectUSA Investment Summit, U.S. Business Day, and the Agricultural Trade Goodwill Mission, have laid the foundation for a mutually beneficial bilateral trade agreement that would cover agricultural products and elevate our economic relations to a higher level.
WHEREAS, in addition to visiting the states of Oklahoma, South Dakota, and Idaho, the 2019 Agricultural Trade Goodwill Mission visited Washington, D.C. where TFMA and U.S. Wheat Associates (hereinafter referred to as "USW") signed a wheat purchase and supply Letter of Intent covering the purchase of 1.8 MMT of U.S. wheat (equivalent to 66.1 million bushels). The value of these purchases is estimated to be around U.S. $576 million.
WHEREAS, the State of Oklahoma is a major wheat producing state, and, through the ODAFF and the OWC, are full supporting members of U.S. Wheat Associates, and join in with them in recognizing the importance our relationship with Taiwan and TFMA.
NOW, THEREFORE, the Parties mutually understand and declare that:
Oklahoma and TFMA are both important links in the vital industry that produces, processes and delivers healthy, and nutritious wheat food products for the people of Taiwan.
Oklahoma and TFMA recognize that there is value earned and returned to each Party by working together to advance the industry for all.
Oklahoma and TFMA do hereby affirm their promise to one another to support and foster the relationship between the U.S. and Taiwan wheat food industries and to partner together to promote the general welfare and prosperity of each.
WebReadyTM Powered by WireReady® NSI
Top Agricultural News
More Headlines...
