Platts analysis of data released by the Korea Customs Service shows that imports have increased year-on-year by 39% to 261,584 megatons (mt).
The data was released 11 January and shows a significant decline in Brazilian ethanol, making up only 9% of supply in 2017 from 49% in 2016.
America remained the primary exporter of denatured ethanol to the country, with 78% of imports originating from the US.
Overall 2017 imports denatured ethanol were up 238% from 2016, compared to undenatured ethanol, which was down 6%.
Australia was the largest exporter of undenatured ethanol, accounting for 44% of South Korea’s imports. Brazil was the largest exporter in 2016, Platts cited favourable prices in Australia as the reason for the change.
See the full Platts article here.