Ethanol exports on track for a new record 2024

In Washington, the Energy Information Administration says U.S. fuel ethanol exporters are on track to export a record amount of the fuel in 2024. The increase in exports this year has largely been driven by demand in countries with biofuel blending mandates and cheaper-than-usual U.S. fuel ethanol prices.

In the first eight months of 2024, U.S. fuel ethanol exports averaged 121,000 barrels per day (b/d)—the most fuel ethanol exports in the first eight months of any year.

Exports have been consistently high in 2024, exceeding 100,000 b/d in each of the first eight months of this year. In comparison, U.S. fuel ethanol exports exceeded 100,000 b/d in fewer than one-quarter of the months between 2019 and 2023.

In each of the past five years (2019–23), U.S. fuel ethanol exports averaged between 80,000 b/d and 100,000 b/d. Annual fuel ethanol exports have only ever exceeded 100,000 b/d in 2018, when they averaged 112,000 b/d for the year because of high exports to Brazil. Since 2018, U.S. fuel ethanol exports to Brazil have decreased significantly because of Brazil’s tariffs on ethanol imports and its increasing domestic production.

Increased fuel ethanol exports to Canada, Colombia, India, and the United Kingdom account for more than 60% of the growth from 2023 to 2024. Fuel ethanol exports have also increased by small amounts to several other countries. In the first eight months of 2024, exports are on track to exceed 2023 volumes to 30 countries and have already exceeded full-year 2023 volumes to 21 countries.