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Record ethanol exports in July
U.S. ethanol exports set a new monthly record in July, 127.4 million gallons compared to the previous record of 120.1 million exported last April. So far this year, the U.S. has exported 588.5 million gallons of ethanol and is on pace to export around 900 million gallons for the year. The Renewable Fuels Association says exports are being driven by the fact corn ethanol is currently the lowest-cost motor fuel in the world. That combined with high sugar costs have allowed the U.S. to surpass Brazil as the largest ethanol exporter in the world. In fact Brazil and Canada are the best customers for U.S. ethanol.
Exports of dried distillers rains with solubles (DDGS) totaled 664,525 metric tons in July, year to date DDGS exports total 4.43 million metric tons. We are on pace to export 7.6 million metric tons for the year. Mexico is our best distillers grains customer with China second.
Tags: Biodiesel, Consumer Issues, Corn, Ethanol, Exports, Renewable Fuels
So we are simultaneously the biggest exporter of ethanol and the biggest importer of crude oil for gasoline/diesel. Perhaps we should utilize more of our domestic ethanol fuel. Eh. Makes too much sense.