The U.S. Grains Council (USGC) continues to provide timely market information to Taiwanese grains importers to bolster U.S. corn imports and increase market share in the sixth largest export market for U.S. corn.
The Council’s efforts focus on differentiating U.S. corn from competitors and sharing the experiences of loyal U.S. corn users with others in the local industry. Taiwanese grain users express their appreciation for the information provided, including insight into the market for U.S. grains and their derivative products related to production, supply and demand, quality, grading and inspection, and shipment and logistics.
This information is transmitted through multiple activities including participation in trade teams, seminars, panel discussions and meetings, as well as data transmitted through publications, the local website, emails and social media.
The efforts of customer servicing the Council provided in 2018 helped increase the market share of U.S. corn from 56 percent in calendar year 2017 to 75 percent in calendar year 2018 by contributing to the confidence in buyers’ purchasing decisions. Taiwan imported 2.49 million metric tons of U.S. corn in calendar year 2017, representing 56 percent of this market at the time. The shipment volume of U.S. corn increased to 3.13 million tons, for 75 percent market share, in calendar year 2018, an increase of 640,000 tons valued at $118.4 million.
The Council invested $156,000 of MAP funds in Taiwan corn promotion activities in 2018, yielding a return on investment (ROI) of $759 for every $1 of MAP funds invested.
About The U.S. Grains Council
The U.S. Grains Council develops export markets for U.S. barley, corn, sorghum and related products including distiller’s dried grains with solubles (DDGS) and ethanol. With full-time presence in 28 locations, the Council operates programs in more than 50 countries and the European Union. The Council believes exports are vital to global economic development and to U.S. agriculture’s profitability. Detailed information about the Council and its programs is online at www.grains.org.