USGC Working to Expand U.S. Global Ethanol Market
The U.S. Grains Council (USGC) has marked ethanol as a channel for growth and is working with partnerships to expand sales of U.S. ethanol on global markets.
Despite the ongoing trade war with China, USGC Chairman Darren Armstrong said that there remains opportunity for growth in other countries, and the organization has set a target of 4 billion exported gallons in the coming few years.
An analysis released by the USGC in September of this year shows non-beverage ethanol to be the fastest growing agricultural export for the U.S., growing at 18 percent per year over the past five years. In 2018 exports exceeded 6.1 billion liters (609 million bushels in corn equivalent) valued at $2.7 billion. And between the 20016/2017 year, and the 2018 year, exports increased in value by more than $330 million year-over-year. This increase was a result of the USGC investing approximately $6 million of FMD and MAP funds to drive the expansion of ethanol exports - translating to a return on investment of $55 for every $1 invested.