Great potential for U.S. ethanol exports
Growth Energy says there’s great potential for U.S. ethanol exports. Craig Willis, vice president of Global Markets, tells Brownfield, “China, they’ve got an E15 by 2020 policy. They’re probably not going to quite get there but that’s the second largest gasoline market going to E10. Brazil, everybody knows uses ethanol. They’re roughly at a 47% blend across the board.”
Without counting the U.S. and Brazil, Willis says there’s only a three-percent blend rate globally.
“So, if we get to E10 in the rest of the world, that would be 13 Billion gallons of new ethanol demand or roughly 4-and-a-half Billion bushels of corn. And just for perspective, here in the states, we use about 5-and-a-half Billion bushels of corn.”
Willis say the three largest gasoline markets: the U.S., Brazil, and, China, make up more than half of the gasoline demand, which means a lot of countries are not using ethanol and that’s why E10 in the rest of the world is “a great target.”
Brownfield interviewed Willis at the NAFB convention in Kansas City.