Illinois Announces $2.6 Billion Agricultural Deal With Taiwan | news Get Whole Detail

Illinois Announces $2.6 Billion Agricultural Deal With Taiwan | news
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CHICAGO — Through a memorandum of understanding, Governor Pritzker, along with Taiwanese leaders, announced the sale of approximately $2 million in Illinois soybeans and $600 million in Illinois corn over the next two years.

The intended sale will take place in 2023 and 2024.

“This is a win for our agricultural community — and a testament to the work our farmers put in every day to make us a world-leading producer of corn and soybeans,” said Governor JB Pritzker.

“I have no doubt that Illinois and Taiwan will continue to enjoy a mutually successful friendship for many years to come – and I am forever grateful for their partnership.”

The deal follows a two-year deal in 2019 for more than $2.2 billion in crop sales.

“Today’s ceremony not only demonstrates Taiwan’s determination to invest in Illinois agriculture, it also means more opportunities for Illinois farmers, more good jobs in our state and a continued economic relationship with Taiwan,” said the US senator Tammy Duckworth.

“I am so proud to be part of this important investment in our great state and honored to witness the signing of the Memorandums of Understanding between Illinois and Taiwan. Taiwan stakeholders here today recognize what I have known for a long time: Illinois is a great place to do business – and I will continue to spread the word.”

The letters commit to sell and buy 96 million to 107 million bushels of soybeans and 59 million bushels of corn and corn byproducts.

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“Since first participating in soybean trade missions in 1978, Taiwan has established itself as a key trading partner for the state of Illinois and its leading industry,” said Jerry Costello, director of the Illinois Department of Agriculture.

“Our trade relationship has grown steadily since then, with Taiwan being our number two trading partner for corn and our number three trading partner for soybeans. This partnership helps Illinois remain the largest producer of soybeans in the US and the second largest producer of corn. We look forward to working with Taiwan for years to come.”

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