Rabobank not as positive as Growth Energy about ethanol’s ability to bounce back

In Canada, Western Producer reports that despite Growth Energy’s assurances that the US ethanol industry will recover post-COVID, Rabobank believes otherwise because the industry was already in a difficult position before the pandemic. Although ethanol demand had improved by the end of 2020, down just 12% in November from the same period in 2019, Rabobank estimates that at least one-third of Americans are no longer commuting to work, which together with ever-more fuel efficient vehicles and the continued switch to electric vehicles will make recovery extremely difficult.