Market Profile - Taiwan

Taiwan Market Snapshot

Supply/Demand Basics

  • #7 U.S. agricultural product market ($3.08 bil. or 2.37% of total in FY2016).
  • #6  U.S. corn market (2.32 MMT, or 4.53% of total in FY2016).
  • #4 U.S. barley market (4.97 TMT, or 3.12% of total in FY2016).
  • #11 U.S. DDGS market (219.7 TM, or 1.9%of total in FY2016).
  • 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 percent of imported corn.
  • Total coarse grain use declining from 5.1 MMT in 2000s to 4.3 MMT in 2010s.

Country Overview

  • Population: 23.5 million
  • Population growth: 0.23%
  • GDP: $1.099 trillion
  • GDP growth: 0.7%
  • GDP per capita: $46,800
  • 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 CY06 to 14% in CY13 and then rebounded to 43% in CY15 and 58% in CY16.
  • Brazil, the major competitor, shared 40% of corn imports in CY16.
  • The people 65-year-old and over accounts for 13.2 percent of Taiwan's population in 2016. Aging population means limited growth in food demand and grain imports.
  • Almost all the large feed mills in Taiwan are using DDGS already; however, they tend to use low inclusion rates in animal feeds.

Policy Issues

  • Some legislators and activists had banned the applications of GM foods in school meals and 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 dropping out of GM soybeans and GM corn from trucks during transportation.
  • The Council of Agriculture (COA) is responsible for regulating biotech events for feed use and commissioned a GM feeds Advisory Group (GMFeAG) in May 2016. Yet, some committee members are pushing hard on questions and areas that are settled or should not be an issue.

Taiwan Supply Demand