By Jamie Martin
The U.S. ethanol industry is experiencing a boom, with both exports and domestic consumption reaching new highs. This positive development coincides with the first anniversary of the Energy Information Administration (EIA) including ethanol export estimates in its Weekly Petroleum Status Report.
The Renewable Fuels Association (RFA) played a key role in advocating for this change. Previously, market participants relied on monthly data from the Census Bureau, which lacked the real-time insights offered by the EIA's weekly report.
Last week, U.S. ethanol exports hit a record 62.3 million gallons, exceeding not only previous EIA estimates but also prior highs based on monthly data. Domestically, refiner and blender net inputs of ethanol, a key consumption indicator, also reached a two-year high at 275.5 million gallons.
Combined, these figures translate to an annualized pace of 17.7 billion gallons for both exports and domestic use, shattering the previous record of 16.8 billion gallons set in December 2023. This surge in demand suggests a strong market for ethanol, a domestically produced biofuel derived from corn.
The increased transparency provided by the EIA's weekly export data is seen as a major win for the industry. It allows stakeholders to make more informed decisions based on real-time market conditions.
This improved data availability could further contribute to the growth and stability of the U.S. ethanol sector.
Photo Credit: shutterstock-dickgage
Categories: National