Jul 6, 2023
May U.S. ethanol exports eased 10% to 113.2 million gallons (mg), chiefly reflecting lower undenatured non-beverage, non-fuel ethanol shipments (including 12.6 mg lower exports to India). Canada was our largest destination for the 26th consecutive month and accounted for 45% of global ethanol sales. The 51.0 mg of ethanol shipped north of our border (a 9% increase over April and the second largest on record) included 73% of total U.S. denatured fuel exports for the month. Other substantial markets included the European Union (22.6 mg, +37%)—primarily shipped to the Netherlands, marking the country’s second-largest import volumes on record—the United Kingdom (9.7 mg, -7%), South Korea (9.6 mg, -10%), Peru (6.2 mg, +113%), and Colombia (6.0 mg, +116%). Brazil again remained essentially absent from the market with a 16% tariff on U.S. ethanol in place. Year-to-date U.S. ethanol exports total 593.0 mg, lagging 18% behind last year at this time.
For the fifth consecutive month, the U.S. did not register any meaningful imports of foreign ethanol.
U.S. exports of dried distillers grains (DDGS), the animal feed co-product generated by dry-mill ethanol plants, sprang to a 9-month high of 958,385 metric tons (mt) in May. This was 23% more than April but 1% behind year-ago volumes. The bulk of DDGS shipments landed in just six countries, yet several smaller markets logged near-record volumes (e.g., Tunisia imported 20,008 mt and Guatemala bought 18,016 mt). Mexico captured the largest market share (17%) for the 11th consecutive month (up 4% to 163,731 mt), and Turkey’s imports were up sevenfold to a 22-month high of 146,559 mt. South Korea (103,925 mt, -7%), Indonesia (89,005 mt, +21%), Vietnam (83,905 mt, +29%), and Canada (59,523, +65%) rounded out our largest global customers for the month. Year-to-date DDGS exports, totaling 4.17 million mt, lag 11% behind last year at this time.
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