BEIJING: China’s ethanol imports fell to a one-year low at 24,639 cu m in July, according to General Administration of Customs data. The July figure continued a downtrend seen June when the total was reported at 111,651 cum. Cumulative ethanol imports over January-July total 644,221 cu m, the data showed.
Denatured ethanol imports fell to 21,055 cu m in July, around 20% of the imports in June. The US remains to be the biggest supplier, accounting for almost the entire amount at 21,051 cu m. Undenatured ethanol imports were 3,584 cu m, with Pakistan providing 99% of the product at 3,579 cu m. However, supply of Pakistani ethanol was said to be limited, which would be difficult to feed the demand, market sources said.
The drop reflected a closed arbitrage into China since April amid surging US prices and weak domestic sentiment after the end of corn stockpiling in China. Meanwhile, imports of dried distiller grains, or DDGs, were up over 60% month on month to 377,740 mt in July, 66% lower on year.
