USDA sees FY 2022 ethanol exports jumping on increased Brazil and UK demand

In Washington, the USDA has forecast FY 2022 ethanol exports at $2.4 billion, up $200 million from FY 2021 thanks to a sharp increase in sales to Brazil and the UK. With the recent droughts followed by frosts in Brazil, the expectation is that there will be significantly increased import demand for ethanol while in the UK, the switch to E10 as of September 1 will increase their import demand. The USDA expects FY 2021 ethanol exports to fall to $2.2 billion, down by $60 million from the previous year due to the lowest exports to Brazil seen in a decade.