Green Plains to Shutter Two Iowa Ethanol Plants
Company’s plant in Fairmont, MN, is also running at half capacity
Major U.S. ethanol producer Green Plains Inc. is shutting down two ethanol plants in Iowa and cutting output at another in Minnesota due to low profit margins, three industry sources told Reuters.
The production cuts come after the Trump administration’s escalating trade disputes cut off U.S. access to ethanol markets in China, contributing to a domestic supply glut that has pushed biofuel prices to near their lowest in over a decade.
Green Plains idled until further notice its facility in Superior, IA, and soon will shut down the plant in Lakota, IA, while the company’s plant in Fairmont, MN, was running at half of its capacity, said the sources, who asked not to be named.