01 March 2010 10:41 [Source: ICIS news]
SINGAPORE (ICIS news)--China exported 61% more ethanol in December 2009 compared with the same period in 2008, due to increased demand for alcoholic beverages, according to statistics released by the Chinese customs late last month.
Ethanol exports were up 36% from November primarily due to the spike in exports of un-denatured ethanol mainly into Korea, on the back of a hike in drinking alcohol beverages in winter, market participants said.
Exports of un-denatured grade increased 8,870 tonnes in December compared to the previous month, according to the statistics.
However, exports of denatured ethanol showed a drop of 3,224 tonnes in December compared to the month before, as it is mainly used in industrial activities and manufacturing slowed down in Asia due to the year-end stock take, according to market observers.
Overall export figures for denatured and un-denatured ethanol in December 2009 represent a year-on-year increase of 61%.
Imports into China remained minimal last year as the Chinese import tariff was set at 30%, making it a major deterrent, traders said.
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