US Ethanol Exports Record High in Feb.

CRANBURY, N.J. (DTN) -- Ethanol exports from the United States reached a record high in February of 218.7 million gallons, up 148% from January, according to the Renewable Fuels Association, with the trade group citing the record after reviewing government statistics. The previous record high was reached in December 2011.

"It is widely believed by trade sources, however, that February's export data includes some volume that was actually exported in late January (particularly to China)," said RFA in a news release.

For the fourth consecutive month, Brazil was the top destination market for U.S. ethanol exports, which reached a record high of 103.2 million gallons.

China was the second-largest destination point, importing 33.1 million gallons of U.S. ethanol in February, which is a 22-month high.

"China was the third-largest market for U.S. ethanol exports in 2016, accounting for nearly a fifth of total exports; however, shipments nearly disappeared last year as the country imposed its first U.S. ethanol import tariff," said RFA. While noting the recent uptick in Chinese imports, the trade organization said, "China's imposition this week of an additional 15% tariff on top of the existing 30% duty will likely put a stop to further shipments in the near term."

Canada took in the third most ethanol exported by the United States at 22.0 million gallons, and Singapore was fourth with 14.8 million gallons.

(BM/AG)