Export data for marketing year (MY) 2023/2024 has been released by the U.S. Department of Agriculture and sales of U.S. grains in all forms (GIAF) increased to more than $48 billion, bolstered by a record 1,746,490,298 gallons of ethanol sold internationally and a single-market record 23.4 million metric tons (924 million bushels) shipped to Mexico.
The new ethanol record does not include an estimated 140.5 million gallons of ethanol exported to Japan in the form of ethyl tert-butyl ether (ETBE), emphasizing the incredible accomplishments of the U.S. biofuels industry during the past year.
“We applaud U.S. farmers and producers for their outstanding efforts in increasing exports this marketing year, and especially to ethanol producers who continue their trajectory of outstanding growth to meet global market demands,” said Ryan LeGrand, U.S. Grains Council (USGC) president and CEO.
“While we are all taking time to celebrate the good news from the GIAF report, USGC staff members are already well into their work to make MY 2024/2025 even better for the U.S. agricultural industry and we look forward to continuing to develop markets, enable trade and improve lives on behalf of U.S. producers.”
Buoyed by its record corn imports, Mexico kept its place as U.S. agriculture’s number one overall trading partner, purchasing 35,016,923 metric tons (1,378,546,224 bushels) of GIAF equivalent. Japan moved into second place over China, a sign of success from the ongoing efforts of the Council and its partners to defend and expand the Japanese market from competing origins.
Colombia skyrocketed into becoming the fourth largest trading partner for U.S. agriculture thanks to a 129.9 percent increase in purchases. Canada, South Korea, Taiwan, the European Union, Guatemala and Vietnam rounded out the top 10 markets in MY 2023/2024.
Read more data from MY 2023/2024 here.
About The U.S. Grains Council
The U.S. Grains Council develops export markets for U.S. barley, corn, sorghum and related products including distiller’s dried grains with solubles (DDGS) and ethanol. With full-time presence in 28 locations, the Council operates programs in more than 50 countries and the European Union. The Council believes exports are vital to global economic development and to U.S. agriculture’s profitability. Detailed information about the Council and its programs is online at www.grains.org.