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Iowa Ag Chief Eyes Asia's Growing Markets
26 Nov
Summary
- Iowa Secretary of Agriculture Mike Naig explored new markets in Southeast Asia.
- Vietnam and Indonesia show significant growth for US agricultural products.
- Trade agreements could further boost Iowa's exports to these nations.
Iowa Secretary of Agriculture Mike Naig has returned from a trade mission to Southeast Asian countries, reporting "exciting market" opportunities for Iowa's agricultural sector. The mission focused on Vietnam and Indonesia, two nations experiencing significant economic growth.
During the trip, agreements were made to increase purchases of U.S. commodities, including corn and soybeans, with Vietnam planning to raise its ethanol blending rate. Iowa's exports to Vietnam reached $223.4 million in 2024, while Indonesia imported $3.8 billion in agricultural goods from the U.S. that same year.
Naig emphasized that while current trade relations are strong, free trade agreements with both Vietnam and Indonesia could unlock even greater potential for Iowa's corn, soybean, ethanol, beef, and pork exports, diversifying markets beyond China.
