BILLINGS — The Taiwan Flour Mills Association has agreed to purchase 1.7 million tons of U.S. wheat over the next two years, much of which will come from Montana.
The Billings Gazette reports that the association committed to the purchase Wednesday while meeting with state lawmakers in Washington, D.C. Officials say the deal is worth $544 million.
Taiwan purchases roughly 441,000 tons of wheat from Montana annually.
The Taiwanese delegation visits the United States every two years to renew a letter of intent between the association and the United States Wheat Associates, which represent wheat and export groups from each state. Taiwan purchased $3.5 billion worth of U.S. farm products last year.
The delegation is scheduled to visit Montana, Idaho and Kansas.
Stay Connected with the Daily Roundup.
Sign up for our newsletter and get the best of the Beacon delivered every day to your inbox.