January 26, 2022
Good Morning,

According to EIA data analyzed by the Renewable Fuels Association for the week ending January 21, ethanol production scaled back by 17,000 barrels per day (b/d), or 1.7%, to 1.035 million b/d, equivalent to 43.47 million gallons daily. Production was 10.9% above the same week last year, which was affected by the pandemic, and 0.6% more than the same week two years ago. The four-week average ethanol production volume decreased 0.6% to 1.036 million b/d, equivalent to an annualized rate of 15.88 billion gallons (bg).

Ethanol stocks expanded by 3.7% to 24.5 million barrels, the largest reserves since early May 2020. Stocks were 3.7% higher than a year ago and 1.0% more than the same week two years ago. Inventories built across all regions except the East Coast (PADD 1), including record-high reserves in the Midwest (PADD 2).
                                                                                                              
The volume of gasoline supplied to the U.S. market, a measure of implied demand, rose 3.4% to 8.51 million b/d (130.38 bg annualized). Gasoline demand registered 8.6% higher than a year ago but 3.3% lower than the same week two years ago.

Refiner/blender net inputs of ethanol declined 1.4% to 795,000 b/d, equivalent to 12.19 bg annualized. Net inputs were 1.3% more than a year ago but 8.9% less than the same week two years ago.

Imports of ethanol arriving into the West Coast were 36,000 b/d, or 10.58 million gallons for the week. This marks the first imports in thirteen weeks. (Weekly export data for ethanol is not reported simultaneously; the latest export data is as of November 2021.)

If you have any questions, please let us know.
RFA RESEARCH & ANALYSIS STAFF
Scott Richman
Chief Economist
636.594.2287
Ann Lewis
Senior Analyst
636.594.2285