WASHINGTON, D.C.—Development Power, the nation’s largest biofuel commerce affiliation, applauded the launch of knowledge in the present day displaying that U.S. exports of ethanol set a brand new document in 2024. In complete, the U.S. exported 1.9 billion gallons of ethanol value $4.3 billion in 2024, exceeding the earlier document for quantity set in 2018, and the earlier document for worth set in 2023.
“The numbers don’t lie. The world is seeking to the U.S. to fulfill its gas wants and American producers are delivering in a method that helps financial development overseas and at dwelling in rural communities throughout the nation,” stated Development Power CEO Emily Skor. “As the brand new Administration places its new commerce priorities into motion, we look ahead to working with President Trump and his crew to make sure that we construct on this momentum in a method that continues to develop the American farm economic system by means of gross sales of American ethanol overseas.”
Some highlights from the info embrace the next:
- In comparison with 2023, complete ethanol export quantity elevated by 36% from 1.4 billion gallons to 1.9 billion gallons in 2024.
- In comparison with 2023, complete ethanol export worth elevated by 13% from $3.813 billion (the earlier document) to $4.311 billion in 2024.
- The U.S. ethanol trade had a $3.966 billion commerce surplus in 2024.
- Canada remained our strongest export marketplace for American ethanol by far, representing 35% of all U.S. world gross sales.
- Canada, the UK, the European Union, India, Colombia, Mexico, and different high markets all had document export years as effectively, that means extra American ethanol was offered into these international locations in 2024 than ever earlier than.
- The rise in exports to Colombia was pushed in-part by the nation returning to an E10 (10% ethanol) mixing requirement. In March 2021, Colombia decreased its mixing requirement from E10 to E4 (4% ethanol), and the extent fluctuated over the next three years, earlier than deciding on E10 in February 2024. Sadly, Colombia continues to impose a countervailing responsibility on its imports of U.S. ethanol—with out that commerce barrier, it’s very seemingly the ultimate export numbers to Colombia would’ve been even increased.
- Regardless of 2024’s robust export efficiency, the trade’s figures could possibly be even increased have been it not for still-outstanding world commerce impediments that limit alternatives in locations like Brazil, China, and different international locations around the globe. Development Power will proceed to work with the brand new administration to take away these boundaries and assist proceed to drive the farm economic system.
The export numbers could be discovered right here. For extra knowledge on the American ethanol trade, click on right here.
