EXPORTS OF U.S. ETHANOL COULD HIT A RECORD 4 BILLION GALLONS A YEAR IN 2022.
Exports of U.S. ethanol could set another record this year, according to Mike Dwyer, chief economist for the U.S. Grains Council.
U.S. ethanol exports during the current marketing year that ends August 31, 2019, are on track to hit between 1.8 billion gallons and 2 billion gallons, Dwyer predicts. If achieved, that amount of ethanol exports would top the current record of 1.62 billion gallons set during the marketing year that ended August 31, 2018. During that 12-month period, U.S. ethanol was exported to 74 countries, according to the USDA’s Foreign Agricultural Service.
The U.S. Grains Council and its ethanol export market development partners – the Renewable Fuels Association and Growth Energy – have set a goal of boosting U.S. ethanol exports to 4 billion gallons a year by 2022, Dwyer states. The Grains Council believes that by 2022, 75% of U.S. ethanol exports will go to six countries: China, India, Japan, Brazil, Canada, and Mexico.