ICGA: Investment in Grain Council boosts ethanol exports
The Illinois Corn Growers Association is investing checkoff funds to expand ethanol markets, positioning farmers for success. In July, ethanol exports fell by 7%, reaching 136 million gallons, yet remained higher than the previous year. Key markets like Japan, the EU, and Canada are growing, with Canada potentially importing 1 billion gallons soon. U.S. ethanol exports could reach a record 2 billion gallons this year.
The Illinois Corn Growers Association says an investment in the Council through checkoff funds is positioning Illinois farmers to achieve significant wins by tapping into these expanding markets.
The Renewable Fuels Association (RFA) reported that ethanol exports fell 7% in July. The 136 million gallons of ethanol exported in July was down when compared to the 145 million gallons exported the previous month, but up significantly from the 112 million gallons exported in July 2023.
Cary Sifferath, vice president of the U.S. Grain Council, said they are always searching for new markets.
“You look at markets like Japan and EU that are very mature markets on the corn side of things and we’re seeing them become growing markets by buying corn in the form of ethanol as we go forward,” said Sifferath.
Sifferath said our neighbors to the north have been the top U.S. ethanol importer in the world.
“Canada will probably import over 600 million gallons of ethanol this marketing year and we see Canada growing to potentially be our first billion gallon market in the next couple of years,” said Sifferath.
Sifferath adds that his group markets ethanol and other products to 75 counties around the world.
RFA expects a record 2 billion gallons of U.S. ethanol to be exported this year.
Last month, the U.S. Grains Council and the American Institute in Taiwan partnered to organize a conference on the use applications and sustainability benefits of ethanol in the transportation sector.
Illinois is the second leading corn producer in the country, behind only Iowa.
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