Valero is set to make its first foray into the ethanol export market, banking on strong demand overseas as regulatory uncertainty hamstrings the domestic market. Via Reuters, Valero has been offering export-grade ethanol to shippers and leasing tank space for it at its St. Rose, La., facility. Sources say this will allow Valero to tap into markets in Asia and Brazil.
Last year Valero acquired and restarted a mothballed corn ethanol plant in Mount Vernon, Indiana, from Aventine Renewable Energy. The company owns 11 corn ethanol plants and is the third-largest ethanol producer in the U.S.
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