The coronavirus is having a swift and sharp impact on the U.S. ethanol industry. A new analysis by the Renewable Fuels Association says U.S. ethanol sales could decline by $10 billion due to the COVID-19 pandemic and crude oil glut. Building on the results from a recent Purdue University study, the RFA is estimating ethanol production could fall by three billion gallons in 2020. Lower usage and higher inventories could cause ethanol prices to be 56 cents per gallon lower on average from March to December.
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