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Domestic, international demand increases for U.S. ethanol

The chief economist for the Renewable Fuels Association says the outlook for U.S. ethanol production is favorable.

Scott Richman tells Brownfield weekly production recently hit a record high at more than 1.1 million barrels per day.

“It’s always nice to be able to point to record high volumes,” Richman said. “What’s going on is really supported by very solid domestic ethanol demand and really strong export demand.”

He says international optimism is increasing.

“Ethanol is priced very competitively and we’re seeing good demand out of a number of countries where they have policies that have led to increased ethanol demand.”

For the week ending June 7^th, U.S. ethanol exports averaged 151,000 barrels per day, 1,000 above the prior week and 26,000 more than last year.