News

July ethanol exports slump, 2024 pace remains strong

U.S. ethanol exports declined from June to July.

The Renewable Fuels Association says ethanol exports of 136 million gallons fell 7% on the month, with notable declines for several key customers, including the United Kingdom, India, and the European Union. Canada took the top slot for the 40^th consecutive month, while U.S. ethanol remained locked out of Brazil due to import tariffs.

Exports of distillers dried grains with solubles were 1.09 million tons, an increase of 16% from June, with Mexico leading the pack for the seventh month in a row, followed by South Korea and the European Union.

For 2024 to date, U.S. ethanol exports remain on a record pace at 1.1 billion gallons, 38% faster than 2023, while DDGS exports are 6.97 million tons, 15% ahead of a year ago.

Export demand is influenced by several factors, including the value of the dollar relative to other currencies, changes to domestic policies, and inter-governmental relations.