In a Tuesday conference call with analysts, ADM Executive Vice President John Rice said in response to the US recession, operators had lowered production capacity to 10.2 billion gallons a year, down from a record of 12.9 billion in the second half of last year.
ADM, a major ethanol producer, on Tuesday reported $585m net earnings for the quarter ending 31 December, up 24% from the same year-ago period.
