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US bioethanol plant shutdown set to continue

The industry has been badly hit
The industry has been badly hit
The closure of a US ethanol plant in Minnesota is set to carry on until at least the end of the month.
Heron Lake Bioenergy LLC announced that the facility in Huron Lake, Minnesota, will remain shut due to the current Covid-19 pandemic.
The company said it will re-evaluate the situation at the end of the month, which could result in the idling of the plant being extended.
The steep fall in petroleum prices due to a drop in demand has also hit the country’s ethanol demand, which has resulted in drastic action being taken by firms.
While some bioethanol plants have been temporarily mothballed, others have reduced capacity.
Ethanol producer Poet, based in Iowa, announced it was idling production at two ethanol plants last month.
Experts have predicted that fuel demand in the country will decline as much as 55% due to the coronavirus restrictions. About 10% of every gallon of petroleum in the US sold is ethanol.
The industry has been badly hit