Trade war hurting the U.S. ethanol industry 'badly': U.S. Grains Council

  • 📰 Reuters
  • ⏱ Reading Time:
  • 49 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 97%

United States News News

United States United States Latest News,United States United States Headlines

The U.S.-China trade war is hurting the U.S. ethanol industry 'badly,'...

FILE PHOTO: AltEn LLC ethanol plant is seen in Mead, Nebraska, U.S., March 21, 2019. REUTERS/Humeyra Pamuk/File Photo

NEW YORK - The U.S.-China trade war is hurting the U.S. ethanol industry “badly,” Mike Dwyer, chief economist of the U.S. Grains Council, said on Wednesday at an event at New York Sugar week: “Without the tariff protection we would probably supply 90-plus percent of all import needs they had,” Dwyer said while on a panel with Renewable Fuels Association chief economist Scott Richman.

The trade conflict between the two countries escalated just about a year after China said it would target the roll-out of gasoline known as “E10,” containing 10 percent ethanol, by 2020. This was expected to bolster the country’s demand for U.S. ethanol.“If this trade war ended tomorrow you would see margins expand by 10 cents a gallon,” Dwyer said.

While domestic measures like the promised expansion of higher ethanol gasoline blends such as E15 help, trade issues need to be resolved for the industry to thrive.Reporting by Ayenat Mersie; Editing by Phil Berlowitz

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

What? The ethanol industry isn't patriotic? Aren't they supposed to sacrifice like the soya bean farmers?

Good. Agribusiness has been raping the taxpayer for years with this government program. No sympathy for them.

Don’t panic. Trump knows what he’s doing. It’s gonna take a few weeks to clean up a 25 year mess caused by the cheating Chinese

'bigly'

Bunk. We shouldn't even have an ethanol industry. Corn is for food, not for cars.

It's matter of time that USA losing it supremacy.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 2. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Leaders to Talk Trade, Technology and the Environment at WSJ CEO Council in LondonU.S. and European policy makers and senior executives are set to gather in London on Tuesday for the annual European meeting of The Wall Street Journal’s CEO Council.
Source: WSJ - 🏆 98. / 63 Read more »