Ethanol Exports a Monthly Record in January
This is good news for corn growers and the ethanol industry. Exports of ethanol from the United States set an all time monthly record in January according to the Renewable Fuels Association (RFS). The ethanol industry got hit really hard during the COVID-19 pandemic. The shutdown meant people were driving their cars a lot less because there was no where to go that was open! At that time a number of ethanol plants in the Midwest shut down for a while which was really sad to see.
The RFA reported that ethanol exports in January of this year were at 164.6 million gallons which was up 48 percent from December of 2020. India was the top destination at 53.2 million gallons. China imported 22.7 million gallons of ethanol and that was up 81 percent and totaled more than they purchased during the entire year of 2020. Brazil imported 17.5 million gallons which was double the previous month.
Remember too that it was announced a couple weeks ago that China had purchased 200,000 million gallons of ethanol. So, one would anticipate that good ethanol exports will continue for a while yet! I addition the coproduct dried distillers grains (DDG's) exports were up 9 percent for the month at 916,541 tons. I am sure you have seen pictures of the smog and poor air quality in China and India? I have wondered for a long time why don't they blend ethanol with their gasoline to improve their air quality like we have done in the United States?
AMAZING! Old Grain Bin in Minnesota is now a bar in Wisconsin