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Higher decarbonization targets have seen biofuels regaining interest from governments as they seek to further reduce carbon emissions from traditional fossil fuels.
In 2023, fuel ethanol accounted for 78% of total U.S. biofuel production, a level which has been broadly consistent since 2021.
Global trading volumes in ethanol have increased rapidly, with more countries adopting higher blending mandates into products like gasoline.
By Elizabeth Hui and Paul Wightman
At a glance
Higher blending mandates for gasoline are contributing to the rising demand for ethanol