By Growth Energy Senior Vice President of Global Markets Craig Willis
As we await the final USDA Foreign Agricultural Service reports for ethanol export numbers for 2018, it was no surprise that November continued the trend of unprecedented growth in exports with over 1.56 billion gallons reported year-to-date and over 147 million gallons for the month. On a 12-month rolling basis, we have seen numbers also continue to grow reaching a record 1.73 billion gallons. Despite the United States suffering from continued trade setbacks, the steady rise in multiple export markets has offered critical consistency for American producers.
Canada’s commitment to biofuels, both at the provincial and national level, continues to remain strong – at over 28.3 million gallons in imports for November. As we recently discussed, Ontario’s Environmental Plan will expand biofuels blending requirements to 15 percent by 2025 for the province. More recently, we have also seen Canada continue to move towards reducing the carbon intensity of their fuel stream at the national level, and Growth Energy has remained engaged in the conversation with our allies in the country to ensure they can take advantage of biofuels to reach their climate goals.