New statistical reports just released by the Renewable Fuels Association show the value of the U.S. ethanol industry’s exports soared to a record level of $7.2 billion in 2022.

Ethanol export volumes strengthened to 1.35 billion gallons in 2022, an increase of 9 percent over 2021 and the fourth-highest level on record, amid tight global fuel supplies. The value of U.S. ethanol exports surged to $3.77 billion, a record high and an increase of $1 billion over 2021. Shipments to Canada set an annual record for a single destination, tallying more than 500 million gallons. South Korea, the European Union, India, Mexico, and the United Kingdom also were sizable markets.

Meanwhile, the 2022 distillers grains trade report registers shipments at 11.0 million metric tons, five percent lower in volume than 2021 but the value of those exports surged to a record $3.4 billion. The U.S. supplied distillers grains to more than 50 countries. Mexico remained the top export market with a 20 percent share, followed by Vietnam and South Korea.