Three ships carrying ethanol were heading to China from the U.S. Gulf Coast, three trade sources told Reuters on Monday, in a sign that exports of the fuel were sharply increasing from the United States to the country.
The shipments may surpass the total amount of U.S. ethanol that China imported last year, a positive development for the U.S. ethanol industry.
In January, ADM CFO Ray Young said that China had bought “roughly 200 million gallons” (4.76 million barrels) of U.S. ethanol for the first half of 2021.
