Source: Renewable Fuels Association
Total ethanol exports fell back to earth in May, plunging 58% from April's totals, the Renewable Fuels Association (RFA) reported today.
U.S. producers exported just 17.1 million gallons in May, compared to 40.8 million gallons in April and 48.3 million in March. Still, May exports were well above the five-year monthly average. Further, through the first five months of 2010, the U.S. has exported 25% more product than in the entire 2009 calendar year.
Additionally, at 141.4 million gallons, 2010 U.S. exports are still on track for a record year.
Exports totaled 157.8 million gallons in 2008 and 150.2 million gallons in 2007. The record year is believed to have been 1995, when 197.5 million gallons of denatured and undenatured ethanol were exported. Since January 2005, the monthly average for total ethanol exports has been 10.2 million gallons.
"Fluctuations in unpredictable ethanol export markets highlight the need for America to focus more attention on increasing its consumption of domestically produced ethanol," said RFA President Bob Dinneen. "America must stop dragging its feet and move aggressively to open up more domestic markets to ethanol.”
Read more at http://www.ethanolrfa.org/.