Ethanol production drops 2.9%, at lowest volume since October

In Washington, D.C., ethanol production scaled back by 2.9%, or 30,000 barrels per day (b/d), to 1.005 million b/d—equivalent to 42.21 million gallons daily and the lowest volume since October, according to EIA data analyzed by the Renewable Fuels Association for the week ending Mar. 20. The four-week average ethanol production rate declined 1.1% to 1.041 million b/d, equivalent to an annualized rate of 15.96 billion gallons.

Ethanol stocks diminished by 1.9% to 24.1 million barrels for a seven-week low. Inventories shifted lower across all regions except the East Coast

(PADD 1). A majority of the stocks draw took place in the Gulf Coast (PADD 3).

There were zero imports of ethanol recorded for the second straight week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of January 2020.)

The volume of gasoline supplied to the U.S. market dropped 8.9% to 8.837 million b/d (371.15 million gallons per day, or 135.47 bg annualized). Refiner/blender net inputs of ethanol declined 4.5% to 874,000 b/d—equivalent to 13.40 bg annualized and a six-week low.

Expressed as a percentage of daily gasoline demand, daily ethanol production increased to 11.37%.