8. November 2019 ecokontor

Valero mothballs two ethanol plants due to weak market

In Texas, Bloomberg reports that Valero has mothballed two of its ethanol plants just a year after buying them from Green Plains. The shutdown of the ethanol plant in Riga, Minnesota and the biorefinery in Bluffton, Indiana is on the back of market weakness provoked by demand destruction for biofuels by the Environmental Protection Agency’s issuance of 31 small refinery exemptions over the summer and a lack of Chinese buying demand as the trade war continues to drag on.