Chinese ethanol exports soar six-fold in July

In China, ethanol exports soared to 19,814 cubic meters in July, up six-fold from the 3,297 exported during the same period last year and 8% higher than in June, as the country takes advantage of its spoiled corn stocks built up over several years to support farmers. More than 65% of the volume went to Saudi Arabia. In line with the policy to boost production and exports while limiting imports through additional import taxes implemented the end of 2016, July imports fell 99% to just 288 cubic meters.