December ethanol exports solid
Ethanol exports ended 2023 on a strong note.
The Renewable Fuels Association says December’s ethanol exports of 155.6 million gallons were up 34% from November, which pulled annual exports to 1.43 billion gallons, the third largest volume on record. Canada took the top slot for the 33rd month in a row, followed by the United Kingdom, India, the European Union, and the United Arab Emirates.
Export demand for ethanol is dictated by several factors, including the value of the dollar relative to other currencies, domestic renewable fuels policies, and tariffs, which are largely keeping U.S. ethanol out of Brazil’s market.
Exports of distillers dried grains with solubles were a three month high at 992,827 tons, a jump of 20% on the month, mainly to South Korea, Mexico, and Indonesia. DDGS exports for the year were 10.8 million tons, down 1% from 2022.
There were no reported ethanol imports in December, leaving the total at 20.6 million gallons, a drop of 74% on the year.
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Author: John Perkins