Craig Willis, the senior vice president for global markets at Growth Energy and the Climate Ethanol Alliance, said President Joe Biden has promised to open a new chapter in US trade talks around the world, which will be a boost for the biofuels sector.
He said: “The goal is to ease tensions and return to a more multilateral approach to opening new markets for US exports.
“At the same time, we can expect the new administration to take a measured approach, working with trading partners like China to ensure that commitments made over the last four years remain in force.
“That includes the new the US-Mexico-Canada Agreement (USMCA), which renewed US bonds with two of the most important markets for American exports. For biofuel producers, the stakes are high.
“According to the latest reports from the USDA Foreign Agricultural Service, export markets for US ethanol and distillers are picking up, despite the lingering effects of COVID-19 on global demand.
“Last October, the US exported 126.52 million gallons of ethanol and 951,500 tonnes of distillers grains, up from both the previous month and when compared to the same period in 2019....
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