China July Ethanol Exports Jump Six-Fold on Cheap Corn
(Reuters) China ethanol exports surged six-fold in July from a year ago as producers took advantage of cheaper corn to boost output following a change in government policy, customs data showed on Wednesday.
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China has been encouraging processors to use up the country’s vast but aging corn stockpiles. In a five-year government plan released late last year, Beijing said it would double ethanol output to 4 million tonnes by 2020.
Saudi Arabia remained the top buyer of the fuel in July, accounting for more than 65 percent of cargoes. READ MORE