In Washington, analysis by the U.S. Grains Council (USGC) showed that non-beverage ethanol has been the fastest growing U.S. agricultural export over the past five years, an achievement supported by Council and ethanol industry programming to promote import-facilitating policy development around the world.
In 2018, U.S. ethanol exports totaled more than 6.1 billion liters (1.62 billion gallons or 609 million bushels in corn equivalent), valued at $2.7 billion. Using trade data on 47 different agricultural and ag-related product groupings tracked by the U.S. Department of Agriculture’s Foreign Agricultural Service (USDA’s FAS) via its Global Agricultural Trade System, analysis reveals the volume of ethanol exports grew by 18 percent per year over the past five years.
Concurrently, overall exports of ethanol from the 2016/2017 marketing year to the 2017/2018 marketing year were up 18 percent by volume and 14 percent by value. In total, exports increased by more than $330 million year-over-year, a significant return on the increased investment from both USDA and U.S. industry into ethanol market development programming. This increase in exports year-over-year supported 2,700 jobs in the U.S. farming sector for a total of 22,740 jobs that are supported by U.S. ethanol exports using USDA’s Economic Research Service (ERS) agricultural trade data multipliers.
Category: Producer News
This articles was originally posted at: https://www.biofuelsdigest.com/bdigest/2019/09/10/us-grains-council-says-ethanol-fastest-growing-us-ag-export-over-past-five-years/ on