In Washington, the US Department of Energy reports that U.S. ethanol exports surged to 82.4 million gallons (mg) in November, with large volumes finding their way into new or emerging markets such as China and India, as well as the Philippines, Tunisia, Panama, and Mexico. Total exports were up 54 percent from October, reaching the highest monthly level since March 2012, which can be seen in the chart below. Canada was once again the leading importer of U.S. product, receiving 28.5 mg in November. The Philippines followed with an annual high of 14.0 mg, while India (8.1 mg), Brazil (4.3 mg), and Norway (4.3 mg) were other top destinations. For the first time since 2002, a sizable volume of fuel ethanol was exported to China (3.5 mg). Similarly, Panama imported meaningful volumes of U.S. fuel ethanol (2.0 mg) for the first time since 1992. Tunisia (2.3 mg) and Mexico (1.7 mg) are other relatively new markets that imported U.S. product in November. Bob Dinneen, president and CEO of the Renewable Fuels Association, “U.S. produced ethanol continues to be the lowest cost liquid transportation fuel on the planet. The fact that rapidly developing countries like China and India are turning to the U.S. for fuel supply is both a reflection of that economic reality and the effort of U.S. producers to look beyond our borders to build demand.
More background on the story from the Digest
Category: Producer News