In Washington, Geoff Cooper, VP of Research and Analysis for the Renewable Fuels Association, published analysis of the February 2011 ethanol export reports, noting that sharp increases are continuing for ethanol exports, even though exported ethanol generally is not blended with gasoline prior to exportation, and does not qualify for the Volumetric Ethanol Excise Tax Credit (VEETC), also known as the blender’s credit.
“U.S. ethanol exports totaled 59.7 million gallons in February, up 4% from January, according to government data released today. Exports of undenatured (non-beverage) ethanol jumped to 21.8 million gallons in February, nearly double the amount shipped in January. Meanwhile denatured ethanol exports were 37.9 million gallons, down from 45.4 million in January. Because this ethanolThrough the first two months of the year, ethanol exports stand at 116.9 million gallons. If the current pace is maintained all year, exports for 2011 could total more than 700 million gallons (compared to 400 million in 2010),” Cooper observed.
More background on the story from the Digest