Today the Global Renewable Fuels Alliance (GRFA) in cooperation with F.O. Licht released its Global Annual Ethanol Production Forecast. The GRFA forecasts fuel ethanol production to hit 85.2 billion litres in 2012.
Despite the slowing Chinese economy and negative economic growth in many western countries, the GRFA predicts a 1% growth in ethanol output in 2012, up from the 84.5 billion litres produced in 2011. Global annual production has now surpassed 536 million barrels of ethanol per year according to the GRFA.
“While the world’s financial health continues to preoccupy policy makers and governments, the global ethanol industry continues to be a bright spot in the world economy. It continues to grow, supporting nearly 1.4 million jobs and contributing $277.3 billion to the global economy in 2010,
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