The U.S. Grains Council (USGC) has compiled its top 10 list of potential U.S. ethanol markets for the upcoming 2014/2015 market year, starting September 1.

While Brazil and Canada remain the top two, the Council is assessing Japan and Korea, Latin America and Southeast Asia as potential markets for U.S. ethanol exports. In the number three spot, USGC believes Japan has the potential to import 459 million gallons of U.S. ethanol in the year ahead, which would account for 11 percent of global demand for U.S. ethanol. Seventh placed Mexico has the potential to import 236 million gallons of U.S. ethanol and the Philippines at number nine could import 90 million gallons. Those three markets combined could to represent almost 20 percent of global demand for U.S. ethanol.

Rounding out the top ten, USGC puts the United Kingdom in fourth place with nearly 305 million gallons, India and Nigeria ahead of Mexico in 5th and 6th place with 250 and 240 million gallons respectively. Australia is ranked in 8th place with 220 million gallons and the Netherlands completes the top 10 with just over 86 million.