News & Events
Representatives from the U.S. Grains Council (USGC), Renewable Fuels Association (RFA) and Growth Energy traveled this week to Japan and Korea to explore the potential for U.S. ethanol in those markets.
The trip is part of a wider look at potential overseas markets for this renewable fuel, which is in increased demand due to mandates for cleaner fuel and its overall affordability.
U.S. Grains Council Chairman Ron Gray announced this week the members of the organization’s 2014-2015 Advisory Teams (A-Teams).
“My first word to the new Advisory Teams is ‘Thank you,’” Gray said in his announcement. “The Council counts on the A-Teams for a lot. Their expertise, guidance, and leadership make a major contribution to the Council’s work. I appreciate the willingness of the A-Team leaders and members to step up and devote their time and energy to the USGC mission.”
Export Exchange 2014™ will play host to international trade teams from more than 30 countries on Oct. 20 to 22 at the Sheraton Seattle Hotel, including key buyers and end-users from Japan, the largest export market for U.S. corn. Comprised of corn millers, compound feed millers and traders, the Japanese trade teams’ goal for attending the bi-annual conference is to learn more about U.S. coarse grains and co-products while building strong relationships with U.S. suppliers.
Chart of Note
This Chart of Note shows the theoretical volume of ethanol demand by non-U.S. markets with existing biofuels mandates. If countries enforced existing biofuels mandates using ethanol, their gasoline use in 2012 would suggest that the top 10 ethanol consumers would require 3.5 billion gallons of the renewable fuel. The next 10 would add another 393 million gallons of demand.
Word from the Ground
Japan and Korea are two key markets for U.S. corn, importing 11.7 million metric tons (460.6 million bushels) and 4.9 million tons (192.9 million bushels) for the 2013/2014 marketing year. Yet, a high level of engagement with the industry, trade and government is still needed to defend U.S. market share.