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Weekly Ethanol Production for 4/14/2023

According to EIA data analyzed by the Renewable Fuels Association for the week ending April 14, ethanol production jumped 6.8% to an 8-week high of 1.024 million b/d, equivalent to 43.00 million gallons daily. The volume produced was 8.1% more than the same week last year and 14.2% above the five-year average for the week. The four-week average ethanol production rate increased 0.6% to 997,000 b/d, equivalent to an annualized rate of 15.28 billion gallons (bg).

Ethanol stocks expanded 0.7% to 25.3 million barrels. Stocks were 3.9% higher than a year ago and 8.2% above the five-year average. Inventories built in the Gulf Coast (PADD 3) and West Coast (PADD 5) but thinned across the remaining regions.

The volume of gasoline supplied to the U.S. market, a measure of implied demand, fell 4.7% to a 9-week low of 8.52 million b/d (130.60 bg annualized). Demand was 3.9% less than a year ago but 2.0% above the five-year average.

Refiner/blender net inputs of ethanol declined 1.0% to 882,000 b/d, equivalent to 13.52 bg annualized. Net inputs were 0.5% below the same week last year but 6.6% above the five-year average.

There were zero imports of ethanol recorded for the nineteenth consecutive week. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of February 2023.)

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