Two major Taiwanese agricultural groups have signed letters of intent to purchase billions of dollars’ worth of corn and soybeans from Arkansas and other U.S. suppliers, Governor Sarah Huckabee Sanders announced Friday.
The Taiwan Feed Industry Association pledged to buy 8.5 million metric tons of corn and corn products, while the Taiwan Vegetable Oil Manufacturers Association committed to 6.5 million metric tons of soybeans between 2025 and 2029. The combined purchases are valued at a minimum of $5.56 billion, though final prices will be determined by importers.
Sanders hailed the deal as “great news for Arkansas and especially our row crop farmers,” who have been hit hard by low commodity prices, poor weather, and lingering tariffs. Agriculture experts warn that without further aid, up to one-third of Arkansas farms could shut down within the next year.
Republican Senator John Boozman, chair of the Senate Agriculture Committee, said he is working to secure federal relief funding. Arkansas, which exported about $63.2 million in agricultural goods to Taiwan in 2024, counts the island nation among its largest international markets.
