US ethanol, renewable fuels boosts agriculture trade surplus

24 February 2012 15:14  [Source: ICIS news]

ORLANDO, Florida (ICIS)--The US ethanol and renewable fuel industry helped create a record $136.4bn in agriculture exports in 2011, the secretary of the US Department of Agriculture said on Friday.

Those record exports created a trade surplus of over $42bn (€32bn), an eight-fold increase over just five years ago, Secretary Tom Vilsack said at the National Ethanol Conference in Orlando, Florida.

“Every billion dollars of [agriculture] sales generates 8,400 additional jobs at home,” Vilsack said. “It’s not something you hear Americans talk about when it comes to trade…but in agriculture we have had an historic surplus.”

The conference started on 22 February and ends on Friday.

($1 = €0.75)

By: Bobbie Clark
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