INDIANAPOLIS — Demand for ethanol is on the mend after a big blow brought on by journey restrictions and COVID-19.
Helena Jette, biofuels director at Indiana Corn Marketing Council, gave an replace throughout a webinar.
“We saw stations here in Indiana get down to $1 per gallon, which is unheard of,” she mentioned. “We are on the rise because the state begins to open up and journey restrictions (are lifted).
“We’re happy to see that ethanol demand and prices are increasing. Right now we’re looking a $2.10 average at the pump. The vehicle miles traveled was down 55% in April. This is on the rise.”
In spite of challenges, the entire state’s ethanol crops stay open at roughly 65% manufacturing, Jette mentioned.
The ICMC is working to help retailers throughout the state in providing E15 and E85.
“There are always new market opportunities here in the state,” Jette mentioned.
“We assist with grant funding for these areas who might have a bit further help relating to tools updates, advertising and marketing or branding help, particularly in the event that they’ve by no means supplied the gasoline at their location and so they need to be aggressive on the road.
“Casey’s General Store in Indiana is home to about 113 (stations), and that is actually growing. Over the last year and a half, we’ve worked to get 35 new E15 and E85 locations on the market.”
Family Express, which is solely in Indiana, has over 40 areas which might be providing comparable merchandise.
The Higher Blends Infrastructure Incentive Program is the following step for reinforcing ethanol, Jette mentioned. The program is accepting purposes by Aug. 13.
“I’m very pleased that the USDA has supported biofuels and is looking to assist those who are wanting to help build their infrastructure,” Jette mentioned.
“There’s $100 million out there — $86 million has been allotted to the ethanol business, $14 million to the biodiesel business. We’re working with numerous retailers on amassing info to use for this grant.
“It’s a 50% match up to $5 million. The awards will be announced at the end of September.”
Learn extra about Indiana ethanol at www.incorn.org/icmc/packages/ethanol.