Market Snapshot 2018 - Taiwan - Commodity Table

Supply/Demand Basics

  • #7 U.S. agricultural product market ($3,404 million in FY 2017).
  • #6 U.S. corn market (2.7 MMT in FY 2017).
  • #5 U.S. barley market (4,000 MT in FY 2017).
  • #12 U.S. DDGS market (267,000 MT in FY 2017).
  • Imported grains meet about 98% of local demand.
  • Feed sector uses about 95% of imported corn.
  • Swine and poultry (including duck) are major coarse grain users.
  • Two wet milling plants producing HFCS, using about 5% of imported corn.
  • Total coarse grain imports maintain at about 4.3 MMT annually.

Country Overview

  • Population / growth: 6 million / 0.17%
  • Urban %: 3%
  • GDP / growth: $1.175 trillion / 2%
  • GDP per capita: $49,800
  • Diplomatic isolation, limited land space, aging population, small agricultural sector and dependent on imported raw materials and fuels.

Trade and Market Share Issues

  • U.S. share of grain imports fallen from 97% in 2006 to 14% in 2013 and then rebounded to 55% in 2017.
  • Taiwan actively seeking alternative suppliers (Brazil 34% of corn imports in CY2017).
  • Almost all the large feed mills in Taiwan are using DDGS already. However, they tend to use low inclusion rates in animal feeds due to their concerns on mycotoxins.
  • Some local feed mills are experiencing poor pellet quality and slow through-put speed while the inclusion rates of DDGS are higher than 10% in pellet feeds.
  • The people 65-years-old and over account for 13.9% of Taiwan’s population in 2017. Aging population with low growth rate of population mean limited growth in food demand and grain imports.

Policy Issues

  • Some legislators and activists have banned the applications of GM foods in school meals. They are trying to revise the threshold level of GM labelling from 3 percent to 0.9 percent and revising the Food Safety and Sanitation Act to prevent spillage of GM soybeans and GM corn from trucks during transportation.
  • There is no supportive policy of using fuel ethanol in Taiwan yet.

Market Snapshot 2018 - Taiwan - Chart