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| The U.S. ethanol industry set another all-time monthly record for production
in August with 225,000 barrels per day. |
Ethanol
Industry On its Way to Shattering 2003 Production Mark, NCGA Notes (11-02-04)
The U.S. ethanol industry is well
on its way to surpassing last year’s
record production of 2.81 billion gallons, according to the National Corn Growers
Association (NCGA). If production continues at its current pace, the industry
will generate approximately 3.35 billion gallons this year, up 19 percent from
2003.
And as the ethanol industry continues
to expand, so do market opportunities for corn growers, according to NCGA
Chairman Dee Vaughan. Nearly 11 percent
of last year’s corn crop went to ethanol, Vaughan said, and USDA expects
ethanol to consume nearly 13 percent of this year’s record crop.
“Ethanol has established
itself as a major market for U.S. corn. Ethanol plants have been proven to
raise the local price for corn, which in turn boosts
farm income and bolsters rural economies,” Vaughan said. “The industry
continues to grow by leaps and bounds as consumers continue to demand clean-burning
renewable fuels that help the environment, reinvigorate rural communities and
enhance our energy security.”
The ethanol industry set another monthly production record in August with
225,000 barrels per day, according to the Energy Information Administration.
The previous monthly record of 222,000 barrels per day was set in June. Through
August, U.S. ethanol producers have generated 2.23 billion gallons of ethanol.
According to the Renewable Fuels Association, 81 ethanol plants are in operation
and 14 additional plants are under construction. Although still centered in
the Corn Belt, ethanol production facilities are cropping up across the country
as ethanol use increases nationwide.
Earlier this week, Panhandle Energies of Dumas, Texas, announced plans to
break ground for the first ethanol plant in Texas, a 30-million-gallon-per-year
facility that will use corn as its primary feedstock. Vaughan, who farms near
Dumas, said the new plant will employ 36 people and consume approximately 1
million bushels of corn per month.
“This is an exciting development for corn growers in this area,” he
said. “Panhandle Energies, the Dumas Economic Development Corporation
and the Texas Corn Producers Board worked extremely hard to bring the first
ethanol plant to the Lone Star State.”