## Ethanol Exports Record High, DDGS Exports Up The Renewable Fuels Association (RFA) reports that U.S. ethanol exports reached a record high of 1.565 billion gallons in 2022, a 10% increase from the previous record set in 2021. The increase was driven by strong demand from Brazil, Canada, and Mexico. **Key Findings** - Ethanol exports to Brazil increased by 102% to 581 million gallons. - Ethanol exports to Canada increased by 8% to 355 million gallons. - Ethanol exports to Mexico increased by 5% to 256 million gallons. **Factors Contributing to the Increase** Several factors contributed to the increase in ethanol exports, including: - **High global demand for ethanol:** The global demand for ethanol is expected to continue to grow in the coming years, driven by the increasing use of ethanol in transportation fuels. - **Favorable currency exchange rates:** The U.S. dollar has been relatively weak in recent months, which has made U.S. ethanol more affordable for foreign buyers. - **Increased production capacity:** The U.S. ethanol industry has expanded its production capacity in recent years, which has allowed it to meet the growing demand for ethanol. **Benefits of Ethanol Exports** The ethanol industry is a major contributor to the U.S. economy, and the record level of ethanol exports is a positive sign for the industry. Ethanol exports support jobs, boost economic growth, and reduce the U.S. trade deficit. **Conclusion** The record level of ethanol exports is a testament to the growing global demand for renewable fuels. The U.S. ethanol industry is well-positioned to meet this demand and continue to be a major player in the global energy market.
Comments