Exports of U.S. ethanol hit a nearly three-year high, while shipments of dried distillers grains (DDGS) slipped in November of 2014. In a piece from Renewable Fuels Association (RFA) Senior Vice President Geoff Cooper, the biggest share of the 90.9 million gallons of ethanol, a 15 percent increase from just a month earlier, went to India and a couple of customers in the Western Hemisphere.
India was the top destination for U.S. product in November, receiving 27.6 mg, or 30% of total shipments. Canada and Brazil were other top customers for the month. Year-to-date exports through November stood at 760.2 mg, implying an annualized total for calendar year 2014 of 829.3 mg.
In a reversal from historical trends, shipments of undenatured fuel ethanol accounted for the majority of November exports. Undenatured fuel ethanol exports totaled 65.9 mg, an all-time monthly record and up 143% from October. India was the leading importer of undenatured product at 27.6 mg, followed by Brazil at 17.0 mg and South Korea at 6.1 mg. The volumes shipped to India and South Korea represented the largest-ever monthly volumes sent to those markets. The Philippines (5.4 mg) and Nigeria (3.3 mg) were other top destinations for undenatured fuel ethanol…
November exports of U.S. distillers dried grains (DDGS)—the animal feed co-product manufactured by dry mill ethanol plants—slid 19% from October to their lowest monthly level since March 2013. The decrease in November DDGS exports was reflective of the continued collapse of the Chinese market. Total DDGS exports for the month were 631,721 metric tons (mt), with Mexico (127,189 mt), Turkey (103,331 mt), and Canada (64,186 mt) again occupying the top three positions. After importing an average of 539,000 mt per month from March to August, China took in just 4,689 mt in November. Still, year-to-date DDGS exports stood at 10.59 million mt, meaning the U.S. achieved a new annual export record in 2014.
At the same time, U.S. ethanol imports hit a five-month high in November, but RFA officials say the numbers were still relatively low at just 4.9 million gallons. Year-to-date 2014 imports through November were just 72.4 million gallons, implying an annualized total of nearly 79.0 million gallons.