US ethanol exports hit nine-month low
July 16, 2012
By Argus Media
July 16, 2012, Houston, TX — US exports of ethanol dropped to a nine-month low in May as Brazil, which has for many months needed US biofuel to meet its domestic demand, did not bring in any US-produced barrels.
Exports of US ethanol slumped 21pc, or 376,200 bl, to 1.4mn bl in May. The average 46,666 b/d of exports was the lowest level for US ethanol moving overseas since August 2011 when 1.2mn bl, or 40,000 b/d, were exported, according to the latest monthly data from the US Census Bureau, as reported by the Renewable Fuels Association (RFA).
“Year-to-date exports stood at 367.4mn USG, implying annualized exports of 882mn USG. Canada was the top destination, followed by the United Kingdom and Finland,” the group said.
Brazil did not take any US ethanol in May.
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