U.S. ethanol exports hit a record high for the month of June, reaching 145.9 million gallons (mg), though this marked a 6% decline from May. Shippers targeted just thirteen markets, with the largest share heading to Canada for the 39th consecutive month. Our neighbor imported 44.7 mg (93% denatured fuel), which is 25% less than May and the lowest volume for the year. Exports to the United Kingdom accelerated, increasing by 144% to 25.8 mg (64% denatured fuel). Other significant markets included the European Union (16.7 mg, +17%), India (14.7 mg, up from nearly zero), Colombia (12.2 mg, +52%), the Philippines (9.3 mg, -42%), and Mexico (8.2 mg, +55%). U.S. ethanol exports for the first half of 2024 total 962.8 mg, a remarkable 41% increase compared to the same period last year.
The U.S. did not record any imports of foreign ethanol in June. Total imports for the first half of the year stand at 1.4 mg.
U.S. exports of dried distillers grains (DDGS), the animal feed co-product generated by dry-mill ethanol plants, decreased 7% to 945,592 metric tons (mt). Mexico, our largest DDGS market for the sixth straight month, imported 200,900 mt (up 1% from May). Exports also rose to South Korea (116,222 mt, +2%), Indonesia (100,967 mt, +19%), and China (52,511 mt, +31% and the largest volume since January 2022). These gains were offset by reduced shipments to Vietnam (66,755 mt, -15%), the European Union (54,258 mt, -50%), Canada (46,096 mt, -17% to a 14-month low), Colombia (30,973 mt, -23%), and Japan (28,011 mt, -13%). The remaining share of DDGS shipments were distributed to 30 countries. U.S. exports for the first half of 2024 total 5.87 million mt, surpassing last year’s shipments during the same period by 15%.
