Taiwan Intends to Make Major U.S. Wheat Purchase - KXNet.com - Bismarck/Minot/Williston/Dickinson-KXNEWS,ND

Taiwan Intends to Make Major U.S. Wheat Purchase

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An island country makes a major wheat purchase.

Taiwan officials are in Bismarck signing an intent to purchase nearly 62.5 million bushels of U.S. wheat, valued at 485 million dollars.
Governor Jack Dalrymple says Taiwan has been one of North Dakota's most dependable markets for hard spring wheat.
The country of 23 million people only has about 1/2 of the land mass of North Dakota.
The country uses the wheat to make bread and noodles.

(Gov. Jack Dalrymple / ND (R)) "Trade with Taiwan is really the result of years of developing relationships with our buyers in Taiwan. The millers have come here many times to our Northern Crops Institute. Since 1978, Taiwan has organized 26 missions to the United States. Resulting in exports of nearly 32 billion dollars." 
(Neal Fisher / ND Wheat Commission) "The letter of intent is just that. It is not a contract, wheat is privately traded with the milling association and individual mills. They do, periodical contracts and tenders with the grain trade, so this is not a contract, but a framework, to further and foster that relationship."

The wheat will be purchased throughout 2014-2015.
North Dakota produces about half of the nation's spring wheat crop. 

 

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