Iowa Ag Trade Mission Explores Opportunities in Indonesia, Strengthen ties in Vietnam

Every dollar helps Decorah News chase down the truth on Water Street, not just headlines. Give today. Iowa Secretary of Agriculture Mike Naig said his recent trade mission to southeast Asian countries revealed "exciting market" opportunities for a variety of agricultural products. Naig, speaking to reporters after the governor's turkey pardoning Tuesday, said Thanksgiving is a "unique time" for Iowans to think about "what it takes" for farmers to feed the nation. He said there's a lot of risk and variability in the farm economy, especially as producers face high input costs and low market prices. Some of this might be alleviated by soybean purchases with China or a federal assistance package for farmers, which the Trump administration said might come in the next couple of weeks. "I still think that there's a need to help farmers bridge the gap into next year," Naig said. "This is a time where they're paying bills for next year's crop, they're looking at financing for next year, so it's a critically important time to get some certainty around that." Ag industry leaders have also pushed for strengthened trade relationships in countries outside of China, which is historically the largest buyer of soybeans. Naig led a trade mission to Vietnam in 2024 and the nation issued several memorandums of understanding this fall to purchase more U.S. commodities like corn and soybeans. Naig said Vietnamese ethanol representatives also visited the state in October and the nation plans to ramp up to a 10% ethanol blending rate in the new year. Considering the already-established relationships with Vietnam, Naig said the recent trip there was about "going to the next level." According to a news release about the trade mission, Vietnam purchased more than $4.5 billion of agricultural products from the U.S. in 2024. Iowa exported about $223.4 million in ag products to Vietnam in 2024. In 2024, Indonesia purchased $3.8 billion of agricultural goods from the U.S. and Iowa exported about $297.6 million to the country. The trade delegation, which returned home Sunday, was organized by the Iowa Economic Development Authority and included representatives from grain and protein groups in Iowa. Naig said the recent trip to Indonesia was "more of an exploratory" trip, considering Iowa delegates had not visited the country in "many, many years." Naig said both nations are growing at "significant" rates and offer "exciting markets" for corn, soybean, ethanol, beef and pork. According to the news release from the economic development authority, the delegation visited the capital cities of both countries for trade policy discussions, market briefings and business development meetings. "Good markets, but a lot more that could come from having free trade agreements with both countries," Naig said. Elevate your inbox with the DecorahNews.com newsletter! Receive free thought-provoking articles, actionable advice and inspiring stories every week.