U.S. ethanol exports dropped below 200 million gallons (mg) in April for the first time in six months amid broadly weaker shipments across several key markets, but still remained strong at 171.6 million gallons, according to the latest Trade Monitor report from the Renewable Fuels Association. Canada remained the top destination for U.S. ethanol, despite a 14 percent decline, while exports to the European Union fell 42% to a 9-month low of 34.1 mg, though strong demand from the Netherlands continued to underpin the market for undenatured ethanol.

Shipments to South Korea jumped 57% to a 4-year high of 16.4 mg, while imports by the Philippines retreated 27% to 11.1 mg. Collectively, these four markets accounted for roughly three-quarters of all U.S. ethanol exports in April. Other significant destinations included the United Kingdom (10.4 mg), Peru (8.6 mg), Mexico (8.0 mg), Nigeria (6.6 mg), and Colombia (6.3 mg). Notably, exports to Brazil dropped to essentially zero as the country emerged from its interharvest period, and India was also absent from the market for U.S. ethanol. Year-to-date U.S. ethanol exports reached 811.3 mg, running 13% ahead of the same period last year.

U.S. exports of dried distillers grains (DDGS) were down just one percent in April to 1.02 million metric tons (mt) as shipments to Mexico declined three percent to 206,786 mt, while exports to Indonesia declined 15% to 139,653 mt. Exports to South Korea were up 6% to 121,565 mt, shipments to Vietnam increased 13% to 114,782 mt, and exports to Turkey surged 32% to 94,663 mt.