MN Soybean farmer leader hosting Taiwan Trade Team

Building export markets across the globe is a critical component toward maintaining and improving Minnesota’s diverse farm economy. Soybeans are Minnesota’s No. 1 agricultural export, a market worth over $2 billion each year. In total, about 60 percent of Minnesota’s soybean crop is exported to markets across the world. This August, buyers from a top market for Minnesota agriculture, Taiwan, are touring the Upper Midwest, including a stop at Matt Purfeerst’s family farm in Faribault.

U.S. soybeans are one of Taiwan’s top agricultural imports, with an annual trade value of nearly $600 million, equating to about 18% of U.S.’s total ag exports to Taiwan. On a per-capita basis, Taiwan is the largest consumer of U.S. food products. Taiwan imports soy for both human and animal consumption, and there’s a growing interest in using soybean oil for biofuels; Taiwan’s imports of U.S. soybeans could grow by more than 50-60% in the years ahead. The Minnesota Soybean Research & Promotion Council partners with the Minnesota Department of Agriculture to support a Taiwanese trade office that promotes Minnesota agriculture. Over the years, the Minnesota Legislature has passed numerous resolutions of support to encourage trade growth between the two countries, often referred to as “sister states.”

On Monday, Aug. 10, in conjunction with the U.S. Soybean Export Council, MSR&PC is welcoming a Taiwanese trade team to visit with Purfeerst, who serves on the board of the Minnesota Soybean Growers Association. Purfeerst will give a tour of the crop conditions on hisfamily operation,showing his guests how his sustainable practices produce high-quality soybeans.

“I’m looking forward to the opportunity to showing our guests how we grow our crops and the technology we’re adopting,” said Purfeerst, who’s hosted trade teams from China and Korea in recent years.

MN Soybean news release