US ethanol exports to China hit a record high this year, the US Department of Agriculture said Wednesday, attributing the increase to a trade mission to the Asian country in 2014.
"Our objective for every trade mission is to create new markets for farm products made in rural America," USDA Under Secretary for Farm and Foreign Agricultural Services Michael Scuse said in a statement. "US ethanol exports to China have jumped from $8 million to more than $86 million since our May 2014 visit. In October, we exported more ethanol to China than in the previous 10 years combined."
According to data from the USDA's Foreign Agriculture Service, US imports of ethanol to China through the first 10 months of the year have reached $86.837 million. The previous record was 2013, when China imported $11.074 million worth of ethanol from the US.
In October, China imported 32.5 million gal of US ethanol, also a record.
The US trade delegation met with parties across the fuel industry, including oil and gas companies, traders and government officials to pitch the use of fuels with higher ethanol blends.
China is the largest customer for US agricultural imports. According to USDA data, China has accounted for $15 billion of the US' $109 billion in agricultural product exports this year.
