Green Plains sees 2016 U.S. ethanol exports little-changed year-over-year – CEO
U.S. ethanol exports are likely to total 800 million to 1 billion gallons this year, the chief executive of Green Plains Inc said on Tuesday, a number that would be little-changed from 2015 levels.
Exports started strong this year but buyers have been slow to book ahead this quarter, as people wait to see whether Brazilian ethanol prices will be competitive with U.S. gallons, said Todd Becker, President and CEO of the Omaha, Nebraska, biofuels producer said on an investor call.
Brazil, the other top producer of ethanol, is ramping up a bumper cane harvest.
Green Plains has locked in prices for about 50 percent of its second-quarter gallons, Becker said.