Ethanol demand, production, expansion and feedstock mismatched in China

In China, Reuters reports that USDA attaché says that despite the country’s massive corn stocks representing more than 50% of the world’s corn and its push to absorb millions of tons of spoiled corn through ethanol production as it heads towards 10% ethanol blending in 2020, production capacity expansion has outpaced demand. Ethanol demand for 2020 will require about 15 million metric tons of ethanol and in 2017 when the mandate was announced it only had 2.7 million tons.