New York Harbor ethanol prices hit 2020 high as demand ramps back up

In New York state, Platts reports that as the Northeast regions begins to ease up its COVID-19 pandemic lockdowns, demand for ethanol has risen in turn helping to support New York Harbor barge ethanol prices to the highest levels seen so far in 2020 at $1.4650/gal. Ethanol production was scaled back by as much as 50% during the early stages of the pandemic as the triple black swan of low oil prices, negative ethanol margins and a violent crash in fuel demand put producers in a precarious situation. Ethanol production has been increasing slowly as demand picks up nationwide and works to eat down the significant stocks.