May ethanol exports down 32% on year

In Washington, the Renewable Fuels Association says U.S. ethanol exports were 67.5 million gallons (mg) in May, a decline of 31.9 mg, or 32%. This is the smallest monthly volume in four years, with slumping sales to Brazil (1.7 mg—down from 23.8 mg) responsible for the bulk of that dip. Exports to India softened 6% in May, yet sales of 14.9 mg rendered it the top global market for U.S. ethanol. Shipments picked up to Canada as 14.5 mg crossed the border (+34%), although tracking at a volume roughly half of recent norms. Export sales slowed to Mexico (9.0 mg, -35% from a surge in April) and South Korea (4.9 mg, -61%), but lifted to the Netherlands (6.7 mg), United Kingdom (4.2 mg), and Nigeria (3.1 mg). An annualized export pace of 1.57 billion gallons would be implied by prorating year-to-date sales, but seasonal factors and the lingering impact of the COVID-19 pandemic could result in 2020 exports being below this level.