Ethanol Production and Exports Increase
The Renewable Fuels Association reported that U.S. ethanol production rose 3.5% to a 19-week high of 1.11 million barrels per day for the week ending October 17, while exports surged 20.4% to 130,000 b/d. Ethanol stocks fell over 3% to 21.9 million barrels, marking a 51-week low.
The latest EIA data analyzed by the Renewable Fuels Association shows an increase in ethanol production and exports and a decrease in stocks.
Ethanol production was up 3.5% for the week ending October 17 to a 19-week high of 1.11 million b/d, equivalent to 46.70 million gallons daily. Output was 2.9% higher than the same week last year and 5.8% above the three-year average for the week. The four-week average ethanol production rate increased 2.1% to 1.06 million b/d, equivalent to an annualized rate of 16.34 billion gallons (bg).
Meanwhile, ethanol stocks dropped over three percent to 21.9 million barrels, a 51-week low. Stocks were 1.4% less than the same week last year and 0.2% below the three-year average.
Ethanol exports jumped 20.4% higher to an estimated 130,000 b/d (5.5 million gallons/day).
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Source : Agwired
