U.S. ethanol exports climbed 7% in May to 184.7 million gallons (mg), setting a new record for the month. The increase was driven by a handful of key markets. Canada, the long-standing top destination, saw a 12% rise in imports to 61.3 mg, representing two-thirds of all denatured ethanol exports. The United Kingdom also showed a strong recovery, with shipments nearly tripling to 30.9 mg. Colombia received 13.0 mg, marking a 69% increase compared to the previous month, according to the press release.
However, exports to the European Union, the second-largest market, dipped by 7% to 31.9 mg, with the vast majority destined for the Netherlands. South Korea’s imports dropped 14% to 10.8 mg, while shipments to India were halved, falling to 9.4 mg. So far in 2024, U.S. ethanol exports have reached 889.5 mg, up 10% compared to the same period last year.
As per the report, on the import side, the U.S. brought in just 30,988 gallons of ethanol in May, primarily denatured ethanol from Canada. Total ethanol imports for the first five months of the year stand at 3.4 million gallons.
Exports of dried distillers grains (DDGS), a co-product of ethanol production used as animal feed, increased 3% in May to 918,108 metric tons (mt). Mexico remained the largest buyer, importing 207,818 mt, nearly 25% of total shipments and up 13% for the month. In contrast, exports to South Korea fell 26% to 95,831 mt, the lowest level so far this year.
Several markets posted significant gains: Indonesia imported 90,215 mt (+15%), Vietnam 88,184 mt (+12%), the European Union 70,345 mt (+40%), Turkey 56,279 mt (+277%), and Canada 45,803 mt (+12%). From January through May, total U.S. DDGS exports reached 4.50 million mt, down 7% compared to the same timeframe in 2023.
