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July Ethanol Exports Tick Upward While Imports Slow to a Trickle; DDG Exports Break Record

September 5, 2014


U.S. exports of denatured and undenatured ethanol in July totaled 62.8 million gallons (mg), up 5% from June, according to RFA analysis of government data. Year-to-date exports stood at 479.3 mg—over 50% higher than exports during the same period last year—and implying an annualized pace of 822 mg for 2014. Canada received 52% of total exports in July, followed by Brazil (18%), the United Arab Emirates (13%) and Spain (8%). July exports of denatured ethanol for fuel use hit a three-month high of 45.9 mg, with shipments primarily moving to Canada (32.4 mg, or 71%), the United Arab Emirates (8.2 mg, or 18%), and Spain (4.7 mg or 10%). Shipments of undenatured ethanol for fuel use were 16.0 mg in July, with Brazil the largest destination at 11.6 mg (72%), and Mexico (3.1 mg or 19%) and the Netherlands (1.3 mg or 8%) as other major players. July exports of denatured and undenatured ethanol for non-fuel, non-beverage use retreated to 881,159 gallons, the lowest level of 2014. U.S. fuel ethanol imports in July dwindled to 3.95 mg—the second-lowest level in over two years—with Brazil the sole shipper. The United States secured its eleventh straight month as a net exporter, with net exports of 58.8 mg. The U.S. had imported just 65.8 mg of ethanol through July, compared to 251.2 mg over the same period in 2013. In July, the U.S. recorded its highest single monthly exports of distillers dried grains—the animal feed co-product manufactured by dry mill ethanol plants. Exports totaled over 1.17 million metric tons (mt), with China sustaining its status as the leading destination with 555,391 mt (47% of exports). Exports to China dropped 4% over June levels—a hint of the sharp cut in market share expected in the August export numbers (published in early October). Mexico ranked second in July with 155,054 mt (13% share), while Japan (64,588 mt), Vietnam (55,915 mt) and Colombia (43,531 mt) rounded out the top customers. Year-to-date exports stood at 7.18 million mt.