Reduced Biofuel Mandate to Boost US Corn Ethanol Export
November 27, 2013News article: http://www.platts.com/latest-news/agriculture/washington/feature-us-ethanol-producers-look-to-exports-21851152
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Analysts predict that corn-based ethanol produced in the US could be exported if demand falls owing to significantly reduced ethanol mandate in 2014.
The EPA has proposed a significant reduction to the Renewable Fuel Standard, calling for 15.21 billion gallons of biofuels -- including up to 13.01 billion gallons of corn-based ethanol -- to be blended with the US gasoline and diesel pool in 2014. The ethanol industry, on the other hand, has estimated that US corn ethanol production could top 14 billion gallons this year due to a record corn harvest. To make up for this oversupply, ethanol exports would have to increase significantly in 2014.
The potential to grow exports is significant, particularly in Brazil, Canada, Europe, and even Asia and Middle East. Analysts, however, cautioned that exports are dependent on several factors, many of which are out of the hands of producers: price competitiveness against other ethanol exports, primarily sugar cane ethanol from Brazil; government policies on biofuel use and tariffs.
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