RFA CEO pleased China is back to importing US ethanol
The CEO of the Renewable Fuels Association says China has put orders in for significant amounts of US ethanol which is good news for the industry.
Geoff Cooper tells Brownfield China was once the third leading export market for US ethanol, importing 200 million gallons in 2017.
“I think having China open the door and return to those levels of imports of US ethanol would absolutely boost margins and help rebalance supply and demand in the marketplace and put a little more tightness into the market, which is something we could use right now.”
Cooper says he does not know the totals, but there are reports of China committing to the purchase of 200 million gallons of US ethanol in the first half of 2021 which would be a step in the right direction in recovering from losses related to the pandemic.