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POET Scales Back Ethanol Production

Will idle several plants and reduce corn demand by 110M bushels

Fuel pump

Sioux Falls-based POET announced Tuesday that it will idle ethanol production at some of its facilities amid a drop in demand for gasoline, reports Aberdeen News.

The world’s largest biofuel producer said it would idle production at facilities in Chancellor, SD, and Ashton and Coon Rapids, IA, and delay the start-up of a new plant in Shelbyville, IN.

The company estimated it would reduce corn demand by 110 million bushels and 330 million gallons of ethanol.

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