Ethanol demand hits record high in June

The Renewable Fuels Association reports that ethanol demand in June reached a new record of 443,000 barrels per day. For the first half of 2007 year, demand is averaging 420,000 barrels per day. The previous record was set in May.

Ethanol production, according to the association, is lagging behind demand. Supply increased only 418,000 barrels per day, causing a reduction in ethanol stockpiles of 750,000 gallons.

The Association reports that US production capacity is 558,000 gallons per month from the 128 ethanol plants now in operation.

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