Siouxland Ethanol will be suspending ethanol production in April 2020. The negative impact of the COVID-19 pandemic on gasoline and ethanol demand in the United States is severe. Our company anticipates that total U.S. fuel ethanol production needs to be reduced by at least 50% until gasoline demand recovers.
While we pride ourselves on being an efficient producer of ethanol, we anticipate that fully suspending production is prudent. We intend to keep our balance sheet and financial position strong, our employees intact, and we look forward to resuming production as soon as economic circumstances allow.
President & CEO