Growing US Ethanol Exports
This marketing year’s U.S. ethanol exports are expected to be the second largest on record as ethanol export promotion efforts ramp up by the U.S. Grains Council (USGC). “Efforts to promote increased exports of U.S. ethanol are showing progress, with global ethanol exports during the first 10 months of the current marketing year posting an 11 percent gain over last year’s numbers. The Council now expects full year 2014/2015 ethanol exports to reach 850 million gallons and to be valued at $1.9 billion, up from 768 million gallons just last year.” said USGC Chief Economist Mike Dwyer.
While 2015 exports to Canada - are down 26 %, all other major markets have shown increases due to strong demand and U.S. ethanol supplies that are competitively priced. Brazil and the Philippines, have grown 71 % and 44 %. Other markets seeing significant growth include Korea, Mexico, the EU and Tunisia. Korea, which imports U.S. ethanol primarily for industrial purposes.
