Ethanol production is up but stocks are down, according to the latest Energy Information Administration (EIA) data analyzed by the Renewable Fuels Association for the week ending April 2.
RFA reports that ethanol production for the week totaled 975,000 barrels/day, equivalent to 40.95 million gallons daily. Production was 45.1% above the same week last year when the effects of the pandemic were reflected but was 2.7% below the same week in 2019. The four-week average ethanol production rate increased 0.9% to 958,000 b/d, equivalent to an annualized rate of 14.69 billion gallons (bg). Ethanol stocks thinned by 2.2% to a 20-week low of 20.6 million barrels, which was 23.8% below a year-ago and 11.0% below this time in 2019. Inventories dropped across all regions except the Gulf Coast (PADD 3). Notably, West Coast (PADD 5) stocks declined to the lowest level since April 2014.