SIOUX CENTER, Iowa (KTIV) -
An ethanol plant, in Sioux Center, Iowa, won't be making as much this year. A manager at Siouxland Energy and Livestock Cooperative, says they've cut back their annual ethanol production rate of 60 million gallons to 40 million.
The manager says the market is flooded with product and demand has plummeted.
He blames refiners, who purchased as much ethanol as they could to benefit from government subsides before they expired January 1st.
"The amount of ethanol that they saved up caused a inventory problem come January after that tax credit expired," said Siouxland Energy and Livestock Cooperative Commodity Manager Tom Miller.
Miller says he doesn't expect to cut any staff during the reductions.
He's hoping to be back to 60 million gallons by 2013.
