US ethanol refiners are consuming more domestic corn than livestock and poultry farmers for the first time, underscoring how a government-supported biofuels industry has contributed to surging grain demand.
The US Department of Agriculture estimated that, in the year to August 31, ethanol producers will have consumed 5.05bn bushels of corn, or more than 40 per cent of last year’s harvest. Animal feed and residual demand accounted for 5bn bushels.
The figures, from the world’s largest corn producer and exporter, come amid growing scrutiny of the biofuels sector and mounting concern over food inflation.
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