In South Korea, ethanol imports increased 39% year on year to 261,584 mt in 2017, according to data released by Korea Customs Service. According to Platts, imports of denatured ethanol surged by 238% over the year to 117,782 mt in 2017. The U.S. remained the key import origin last year, accounting for 78% of total imports, followed by Pakistan at 10% and South Africa at 6%.
Undenatured ethanol imports however, fell 6% year on year to 143,802 mt in 2017. Australia overtook Brazil as the largest supplier of undenatured ethanol last year, accounting for 44% of total imports, followed by Cambodia at 16% and Pakistan at 14%. Volumes from Brazil accounted for only 9% of the total undenatured ethanol imports, down sharply from 49% in the previous year. South Korea has been importing more undenatured ethanol form Australia since December last year because of more favorable prices compared with Brazilian and Pakistani industrial grade ethanol.
