(NewsDakota.com/NAFB) – The U.S. Grains Council this week signed an ethanol memorandum of understanding with the Industrial Association of Sugar Cane of Panama.

The signing came as part of a USDA trade mission to South America. The Grains Council held a regional seminar in Panama City that brought together stakeholders and government officials from Central American countries and the Dominican Republic to learn about ethanol and gasoline blending in the region. The MOU recognizes the importance of assessing the role and benefits of biofuels and ethanol in promoting economic growth, diversification of the energy matrix and decarbonization of transportation in the global energy transition to address global greenhouse gas emissions.

USDA Undersecretary for Trade and Foreign Agricultural Affairs Alexis Taylor says, “This MOU bolsters economic and energy security through both domestic production and strengthening trade ties between our two nations.” Global ethanol consumption has grown from 16 billion gallons in 2010 to more than 27 billion in 2022.