A record year for ethanol exports has already been declared, even before the official year-end data has been tabulated.
The latest data released Tuesday by the Census Bureau has U.S. ethanol exports for 2024 totaling 1.72 billion gallons just through November, already surpassing the previous annual record of 1.67 billion gallons set in 2018. With one month of data to go, exports are on pace to approach 1.9 billion gallons for the full 2024 calendar year, which would represent 12 percent of U.S. ethanol production and will also be a record.
Renewable Fuels Association President and CEO Geoff Cooper says growth in the export market was a big bright spot for the U.S. ethanol industry in 2024. “And it’s the primary reason that we are going to see record ethanol production in 2024 and very likely record overall demand,” said Cooper. “2024 was a phenomenal year for ethanol exports.”
Canada has been by far the top destination, accounting for over one-third of total shipments. Over 600 million gallons of ethanol were shipped to our North American neighbor through November, and shipments were on pace to be the largest ever to an individual destination in a single year. Other top destinations in 2024 included the United Kingdom, India, the European Union, and Colombia.
Cooper addressed the explosive growth in exports in RFA’s year-end Ethanol Report podcast, noting that the new record was achieved even as several key ethanol market, including Brazil and China, maintain punitive trade barriers against U.S. ethanol. “But as we look at 2025, we’re going to be really going after some of those those barriers in those countries. We’re going to be working with the new administration, the new folks at USTR, Commerce Department, USDA to really attack those trade barriers and try and get them removed and get those markets opened up,” said Cooper.
That would be Plan A, says Cooper. “Plan B, of course, is if we can’t convince countries like Brazil to remove their tariffs, then maybe we should be considering leveling the playing field and and putting some reciprocal treatment on products that they’re sending us..if they’re not willing to sit down and and talk about restoring free and fair trade.”
Listen to Cooper’s comments about exports from the Ethanol Report below, as well as the entire year re-cap and look ahead for 2025.
RFA CEO on record ethanol exports 3:50 Ethanol Report 12-30-24 38:30