Ethanol production down 0.6% over previous week

In Washington, D.C., ethanol production declined by 6,000 barrels per day (b/d), or 0.6%, to 1.036 million b/d, equivalent to 43.51 million gallons daily, according to EIA data analyzed by the Renewable Fuels Association. Production was 7.4% more than the same week last year and 6.6% above the five-year average for the week. The four-week average ethanol production volume increased 1.0% to 1.033 million b/d, equivalent to an annualized rate of 15.84 billion gallons (bg).

Ethanol stocks rose 1.5% to 26.5 million barrels, the highest level since April 2020. Stocks were 25.6% higher than a year ago and 13.4% above the five-year average. Inventories built across all regions except the Gulf Coast (PADD 3).

The volume of gasoline supplied to the U.S. market, a measure of implied demand, decreased 1.6% to 8.50 million b/d (130.29 bg annualized), the lowest level since late January. Demand was 4.4% less than a year ago and 1.5% below the five-year average.

Refiner/blender net inputs of ethanol declined 2.1% to a six-week low of 847,000 b/d, equivalent to 12.98 bg annualized. Net inputs were 4.0% less than a year ago but 0.5% above the five-year average.

There were no imports of ethanol for the ninth consecutive week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of January 2022.)

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