Green Plains sees China sticking with phase 1 ethanol purchases

In Nebraska, ICIS reports that despite the drop in fuel consumption due to COVID-19, Green Plains expects China to make good on its promise to buy ethanol from the US. Ethanol purchases are part of the phase 1 trade deal that is meant to end the years-long trade war between the US and China that has significantly impaired the US farm economy, and with it the ethanol industry. At the same time, the company’s CEO warned farmers to not rely on China he says will never be the industry’s savior, but who will try to take advantage of unusually low prices.