About 836 million gallons of ethanol – worth $2.1 billion – were exported from the US last year, which is about six percent of the amount produced in the US, according to the Renewable Fuels Association (RFA). At the same time, ethanol imports continued to decline, which further helped out out trade surplus.
Canada was the largest importer among the 51 countries that purchased US ethanol. It was followed by Brazil, the UAE, the Philippines and India. The overall export numbers would've been higher if it wasn't for the tariff on US ethanol imports imposed by the European Union.
US ethanol production has been a highly debated subject, with proponents saying it helps reduce both national refueling costs and dependence on foreign oil, while others (including Big Oil) argue that more ethanol production may be more harmful to both the environment and light-duty vehicle engines. There was even talk last year from the Environmental Protection Agency (EPA) of cutting the biofuel component in American gas for the first time ever, but that decision has since been delayed. The RFA's press release is available below.
February 05, 2015
Ethanol Expands Global Reach, RFA Releases New 2014 Export/Import Publication
WASHINGTON - U.S. ethanol exports reached near-record levels in 2014, sending 836 million gallons of ethanol worth $2.1 billion to international markets, the Renewable Fuels Association (RFA) explained today in its new publication "2014 U.S. Ethanol Exports and Imports: Statistical Summary." The publication offers a succinct overview of the U.S. ethanol export and import markets in 2014 showing the upward trend in exports and the downward trend in imports - reaching the second-lowest levels - since 2005.
The report finds that U.S. ethanol has made its way to all inhabited continents of the world, reaching more than 50 countries. The top five countries importing U.S. ethanol last year included Canada, Brazil, the United Arab Emirates, the Philippines, and India. Meanwhile, exports to the European Union remain down due to a punitive trade tariff it chooses to impose on U.S. produced ethanol.
Bob Dinneen, president and CEO of the Renewable Fuels Association, noted, "Last year U.S. ethanol producers produced a whopping 14.3 billion gallons of ethanol and nearly 6 percent was exported globally. We are working diligently to increase demand for this product abroad. It has been rewarding to see countries all over the world embrace the U.S. produced, high-octane fuel, which has also been the lowest-cost liquid transportation fuel found anywhere in the world."
Dinneen continued, "U.S. ethanol is now exported to 51 countries across the globe, including regions that once seemed far-fetched as renewable fuel destinations such as the Middle East and North Africa. But, we will not stop here. We will keep working with others in the industry and the U.S. government to keep exploring new regions that would benefit from U.S. ethanol. Last year, RFA participated in trade missions to Panama, China, Peru, Japan, and South Korea and we will keep at it until all countries understand the value of U.S produced ethanol."
The publication will be distributed at the 2015 National Ethanol Conference on Feb. 18–20 in Grapevine, Texas, and fits the conference theme "Going Global." Keynote speaker Ron Kirk, the former U.S Trade Representative, will give insight into international trade relations and a panel of industry experts will discuss global ethanol markets in a session titled "Going Global: Building Ethanol Demand Internationally."
The RFA's "2014 U.S. Ethanol Exports and Imports: Statistical Summary" can be found here.
- See more at: http://www.ethanolrfa.org/news/entry/ethanol-expands-global-reach-rfa-releases-new-2014-export-import-report/#sthash.PtpoQUsy.dpuf