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U.S. Ethanol and DDG Exports Rebound in October; Ethanol Imports Remain High

December 12, 2012

           

U.S. exports of ethanol (denatured and undenatured, non-beverage) totaled 53.6 million gallons (mg) in October, up 8.6% from September and the highest since July. Canada was again the top destination for U.S. exports, followed by the United Kingdom and the Netherlands. Year-to-date exports stood at 643.3 mg, implying an annual total of 772 mg. Exports of denatured ethanol for fuel use tallied 30.3 mg, with nearly all (98%) of the product exported to Canada. The Netherlands was the only other major importer of U.S. denatured fuel ethanol in October, bringing in almost 402,000 gallons. Notably, denatured fuel ethanol shipments were at their lowest monthly level of the year in October. Meanwhile, exports of undenatured ethanol for fuel use jumped to 22.7 mg in October, nearly double the amount shipped in September. Top destinations for undenatured product were the United Kingdom (9.8 mg), the Netherlands (9.1 mg), Mexico (2.5 mg) and Ireland (1.2 mg). Exports of denatured and undenatured non-beverage ethanol for non-fuel use were just over 600,000 gallons. The U.S. was a net importer of ethanol again in October, bringing in 72.4 mg. Of the total, 56.2 mg came directly from Brazil and the remainder (16.2 mg) came by way of the CBI countries Jamaica and El Salvador. Interestingly, 5.4 mg of October imports were denatured, which was the first time this year the U.S. has imported sizeable shipments of denatured product. Year-to-date ethanol imports stood at nearly 390 million gallons, implying a calendar year total of 468 mg. Notably, the 2012 RFS2 advanced biofuel standard calls for 490 mg of "undifferentiated" advanced biofuel, and imported sugarcane ethanol can be used for compliance. October exports of distillers grains (DDGS) totaled 620,341 metric tons (mt), up 3.3% from September and the highest since July. China was again the leading market (140,277 mt), followed by Mexico (95,392 mt), South Korea (51,651 mt), Viet Nam (40,877 mt) and Canada (39,593 mt). Year-to-date exports stood at 6.37 million mt, implying an annualized total of 7.64 million mt.