U.S. has full access to Japanese biofuels market for first time
The U.S. has full access to the Japanese biofuels market for the first time.
U.S. Grains Council director of global market development Mackenzie Boubin says Japan recently revised its U.S. corn ethanol carbon intensity score.
“(Allowing) up to a 66 percent market access in 2020, and then as of March 31st, 2023, the U.S. has now successfully been able to achieve a potential 100 percent market access.”
She tells Brownfield that could result in an additional 80 million gallons of U.S. ethanol going to Japan.
“Buyers of corn never have any obligation to choose U.S. products. Typically we have a price advantage, we have supply economics, etc. But it’ll come down to what works for Japan.”
Japan currently has a 3 percent ethanol blending requirement. But Boubin says if that is raised to 10 percent and the U.S. captures 100 percent of the market, exports to that country would grow to 1.2 billion gallons.