May 23, 2017 / 6:46 AM / 7 months ago

China ethanol exports soar as Beijing boosts local industry

BEIJING, May 23 (Reuters) - China’s ethanol exports soared in April and imports slowed to a trickle, data showed on Tuesday, the latest sign that Beijing’s push to ramp up local production is upending trade flows in the world’s fastest-growing biofuel market.

China exported 13,540 cubic metres of ethanol in April, up over 1,000 percent from a year earlier and 18 percent higher than the month before, data from the General Administration of Customs showed.

China imported just 23 cubic metres of ethanol last month, as a big hike in taxes at the end of 2016 hit overseas purchases. (Reporting by Hallie Gu and Josephine Mason)

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