US ethanol industry could face losses of $10bn due to COVID-19

May 07th, 2020

Ethanol sales in the USA could fall by more than US$10bn in 2020 and the industry’s contribution to gross domestic product (GDP) could drop by nearly one-third due to the effects of the COVID-19 pandemic.The economic damages went far beyond the ethanol sector with US farmers also negatively impacted, as ethanol typically provided a market for two out of every five rows of corn and more than one-third of the annual sorghum crop.