USGC’s ethanol promotion efforts triple exports to South Korea

The U.S. Grains Council has promoted U.S. ethanol exports in South Korea since 2016, focusing totally on educating Korean consumers concerning the availability and pricing of U.S. ethanol, along with introducing consumers to U.S. suppliers and visiting export hubs. Council programming included welcoming purchaser groups to the USA, participation within the World Ethanol Summit and Asia-Pacific Ethanol Summit, internet hosting consumers in ethanol procurement programs, and facilitating business-to-business conferences.

As a part of a cross-organization effort with the Council’s Southeast Asia regional workplace, the Korean workplace has promoted the significance of Korean ports as a transshipment marketplace for U.S. ethanol to different key Asian markets. Facilitating an engagement with different Asian consumers and stakeholders has been a key a part of the Council’s technique, together with offering market and coverage data to stakeholders within the Philippines, Vietnam, and Indonesia and arranging conferences with native consumers to considerably increase ethanol transshipment exports by means of the Ulsan Port.

South Korea imported 137.4 million gallons of U.S. ethanol valued at $520 million within the advertising and marketing yr 2020/2021. This was a development of 90.1 million gallons on an annual foundation from 5 years in the past, earlier than the Council was participating in ethanol promotion efforts. Within the 2016 advertising and marketing yr, South Korea solely imported 47.3 million gallons.

The Council has invested $341,160 of Market Entry Program (MAP) and Agriculture Commerce Promotion (ATP) program funds on this work, leading to a rise of $195.75 million in industrial and gas ethanol exports to South Korea and Southeast Asia prior to now 5 years, a return on funding of $573 per $1 of MAP and ATP invested prior to now 5 years.