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Weekly Ethanol Production for 1/5/2024

Article courtesy of Renewable Fuels Association

According to EIA data analyzed by the Renewable Fuels Association for the week ending January 5, ethanol production inched up 1.2% to 1.062 million b/d, equivalent to 44.60 million gallons daily. Output was 12.6% more than the same week last year and 5.4% above the five-year average for the week. Still, the four-week average ethanol production rate decreased 0.3% to 1.072 million b/d, which is equivalent to an annualized rate of 16.43 billion gallons (bg).

Ethanol stocks grew 3.4% to a 38-week high of 24.4 million barrels. Stocks were 2.4% more than the same week last year and 4.4% above the five-year average. Inventories built across all regions except the Midwest (PADD 2).

The volume of gasoline supplied to the U.S. market, a measure of implied demand, strengthened by 4.7% to 8.33 million b/d (127.62 bg annualized). Demand was 10.1% more than a year ago and 3.8% above the five-year average.

Conversely, refiner/blender net inputs of ethanol stepped down 0.6% to 804,000 b/d, equivalent to 12.33 bg annualized and a 52-week low. Yet, net inputs were 4.7% more than a year ago and 0.8% above the five-year average.

Ethanol exports were estimated at 157,000 b/d (6.6 million gallons/day), more than double the prior week. There were zero imports of ethanol recorded for the 16th consecutive week.

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