The United States exported record volumes of ethanol in marketing year 2023/24 (September-August), surpassing the record set in 2017/18. In the last decade, export volumes and destinations have shifted.
Brazil was once the top U.S. destination, but as Brazil expanded corn ethanol production, the volume of U.S. exports shrank. The United States largely offset reduced sales to Brazil by expanding into markets where biofuel mandates increased domestic demand. In the last 5 marketing years, Canada has become the top destination for U.S. ethanol exports, accounting for 37% of the total in 2023/24.
Ethanol demand has grown in Canada with the implementation of mandates on use of low carbon and renewable fuels. Similarly, post-Brexit renewable fuels targets in the United Kingdom have driven growth in U.S. ethanol exports, and the United Kingdom became the second largest destination for U.S. ethanol in 2023/24.
Other significant U.S. ethanol export destinations are the European Union, India, Colombia, and South Korea. Exports to the European Union have been steady to slightly growing during the past 7 years, but exports to India, Colombia, and South Korea have varied.
So far for marketing year 2024/25, U.S. ethanol exports through November remain 37% higher than the same period a year ago. U.S. ethanol exports accounted for 11% of U.S. corn used for ethanol production and 4% of total U.S. corn demand in 2023/24.
