RFA Renewable Fuels Association : June 2020 Global Sales of U.S. Ethanol and DDGs Pick Up the Pace, Recovering Lost Ground

08/05/2020 | 02:52pm

August 5, 2020 - U.S. ethanol exports were 78.5 million gallons (mg) in June, an 11.0 mg increase (up 16%). Sales across our northern border returned to pre-COVID levels, as Canada purchased 27.4 mg (up 89% from May), regaining its status as our largest export market. However, sales to India slipped 15% in June to 12.6 mg, and exports to Mexico eased 1% to 9.0 mg. Other sizable customers of U.S. ethanol included Finland (7.8 mg), South Korea (4.6 mg), the Netherlands (3.4 mg), and Jamaica (3.0 mg), while Brazil was nearly absent. Exports over the first half of the year were 730.7 mg.

U.S. undenatured fuel ethanol shipments in June dropped 58% to 12.4 mg-the lowest volume since September 2018-with India's departure from the market responsible for the bulk of that dip. However, exports increased by 9% to Mexico, reaching 7.3 mg (representing roughly 60% of U.S. global sales). Jamaica (2.7 mg) and Switzerland (1.8 mg) also purchased significant volumes of American-made undenatured fuel ethanol.

Sales of U.S. denatured fuel ethanol nearly doubled in June to a three-month high of 54.1 mg. Shipments to chief customer Canada rose 11.8 mg to 23.8 mg (accounting for 44% of total exported product). Other large markets were India (9.3 mg), Finland (7.8 mg), South Korea (4.4 mg), the Netherlands (3.4 mg), and Peru (2.7 mg).

Exports of U.S. ethanol for non-fuel, non-beverage purposes grew 25% to 12.0 mg. India (3.3 mg), Canada (3.3 mg), Nigeria (2.3 mg), and Mexico (1.6 mg) were our largest customers.

The U.S. imported 10.5 mg of cane ethanol from Brazil, the first shipments since March. Imports totaled 46.5 mg during the first half of the year.

U.S. exports of dried distillers grains (DDGs)-the animal feed co-product generated by dry-mill ethanol plants-shot up 47% to 883,193 metric tons (mt). Thailand became our largest market for the first time with a record purchase of 208,456 mt, or nearly a quarter of June U.S. DDGs export sales. Mexico reduced imports by 18% to a five-year low of 97,873 mt, while sales were robust in Vietnam (94,277 mt, +38%), Turkey (86,925 mt, +82%), South Korea (69,231 mt, +33%), and Indonesia (56,780 mt, -10%). Worldwide U.S. DDGs exports for the first half of 2020 were 4.98 million mt.

Disclaimer

RFA - Renewable Fuels Association published this content on 05 August 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 05 August 2020 18:51:07 UTC

Copier lien
Latest news about "Economy & Forex"
12m ago
15m ago
17m ago
19m ago
25m ago