Full Title: 2021 Ethanol Industry Outlook
Author(s): Renewable Fuels Association (RFA)
Publisher(s): Renewable Fuels Association (RFA)
Publication Date: December 30, 2021
Full Text: Download Resource
Description (excerpt):
Over the past several years, these pages have typically been replete with examples of record-setting performance as the U.S. ethanol industry continued its unprecedented growth. Such is not the case for 2020. As the global pandemic crushed gasoline demand here and abroad, demand for ethanol fell precipitously. Annual U.S. ethanol production fell to less than 14 billion gallons for the first time in seven years. At the height of the pandemic-induced market turmoil, more than half of the industry’s production capacity was idled. From just March through November, more than 2 billion gallons of demand had been forgone, representing more than 700 million bushels of lost corn demand and revenue losses to the industry of more than $3.8 billion.