Ethanol producers are literally in the battle of their lives for the survival of the industry, as losses continue to mount from restrictions on travel put in place due to COVID-19.
The latest production data analyzed by the Renewable Fuels Association for the week ending April 24, ethanol production dropped another 4.6%, or 26,000 barrels per day (b/d), to 537,000 b/d—the lowest level since the EIA began reporting ethanol production statistics in 2010. Production was 48% below the same week in 2019. The four-week average ethanol production rate dropped 11.5% to 585,000 b/d, equivalent to an annualized rate of 8.97 billion gallons, compared to nearly 16 billion gallons in 2019.
As ethanol producers continue to lose money, they are coping and hoping the future will be brighter. In this edition of the Ethanol Report podcast, three ethanol producers in California, Kentucky and Iowa, talk about how they are handling the crisis, including helping with the production of hand sanitizer. We also hear about RFA’s projection of losses for the industry and how the federal government could help.
Neil Koehler, Chairman, RFA; Co-Founder and CEO of Pacific Ethanol
Mick Henderson, General Manager, Commonwealth Agri-Energy
Mike Jerke, CEO of Southwest Iowa Renewable Energy (SIRE)
Scott Richman, Chief Economist, Renewable Fuels Association
Geoff Cooper, President and CEO, Renewable Fuels Association
Ethanol Report 4-30-20 (21:39)
The Ethanol Report is a podcast about the latest news and information in the ethanol industry that has been sponsored by the Renewable Fuels Association since 2008.
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