Arkansas Farmers, Truckers Boosted by $5.5B Taiwan Crop Pact
Agriculture No. 5 in Arkansas Truck Tonnage With Nearly 18M Tons Yearly
Key Takeaways:
- Arkansas Gov. Sarah Huckabee Sanders signed letters of intent with Taiwanese agricultural associations for $5.56 billion in corn and soybean purchases from 2026 to 2029.
- The deal includes 7.5 million metric tons of corn for $2.12 billion and 6.5 million metric tons of soybeans worth $3.44 billion.
- The agreement will benefit Arkansas truckers, who transport nearly 18 million tons of agricultural goods annually and move grain from farms to ports.
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Arkansas farmers and truckers stand to benefit from a combined $5.5 billion deal to export millions of metric tons of corn and soybeans to Taiwan from 2026 to 2029.
Gov. Sarah Huckabee Sanders with top Taiwanese agricultural associations to buy at least $5.56 billion of Arkansas and other U.S. agricultural products over several years starting in 2026. Arkansas last year exported $63.2 million in goods to Taiwan, which is the state’s fifth-largest international market.
The Taiwan Feed Industry Association plans to spend $2.12 billion on 7.5 million metric tons of corn and 1 million metric tons of corn products.
Also, the Taiwan Vegetable Oil Manufacturers Association intends to buy at least 6.5 million metric tons of soybeans worth an estimated $3.44 billion.
In 2024, Taiwan became the eighth-largest trading partner for the U.S. by buying nearly $3.7 billion in U.S. agricultural goods. These U.S. exports included $490 million of soybeans and $410 million in corn.
Members of the Taiwanese delegation meet withArkansas Secretary of Agriculture Wes Ward and Arkansas Secretary of State Cole Jester. (Will Newton via governor.arkansas.gov)
Sanders called Taiwan’s planned purchases “great news for Arkansas and especially our row crop farmers, who need all the assistance they can get right now.”
Final purchase terms and prices are subject to direct negotiations between the American agriculture suppliers and the Taiwanese importers.
Trucking plays a large role in the state’s agriculture industry, which accounts for the top economic sector by contributing $4.3 billion annually from 37,400 farms on 13.7 million acres.
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“This purchase commitment from Taiwan provides a much-needed bright spot in what may be one of the toughest financial years for American agriculture,” said Tyler Oxner, director of commodity activities and economics at the . “Arkansas’ role as a major exporter means the agreement is a welcomed development for not only Arkansas farmers, but also for the trucking industry, which moves grain to ports before it’s shipped to places like Taiwan.”
The independent, voluntary organization represents 190,000-member farm and ranch families. State farmers and ranchers have been facing numerous struggles due to an ongoing drought, a population of predominantly aging farmers and an upswing in bankruptcies.
“When bankruptcies erode farm equity, succession becomes even more difficult. Older farmers nearing retirement may have no heirs willing or financially able to assume the risks of production agriculture, leading to land being sold outside the family and sometimes outside of agriculture,” the bureau noted recently. “If trends continue unchecked, 2025 may be remembered not only as a year of rising bankruptcies, but a year in which America loses a generation of farmers.”
Agricultural goods ranked fifth in Arkansas for having the highest truck tonnage in 2019 with nearly 18 million tons. Logs and wood products was first with 21.3 million tons, notes the .
“The transportation sector plays an important role for the agriculture industry. We rely on trucks to move agriculture products on and off the farm daily, and our hope is that deals like this one will help keep the vital connection between farmers and the trucking industry strong,” Oxner said.
Arkansas ranks among the top truck states for transporting corn, according to the U.S. Department of Agriculture.
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