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Canada Plans to Release Maple Syrup from Reserve

Canada is tapping into its strategic reserves. This time, for maple syrup. The Quebec Maple Syrup Producers said it releases roughly 50 million pounds from its strategic maple syrup reserves, almost half of the stockpile.

The government-supported organization, often called the OPEC of maple syrup, uses its reserves to control syrup prices and supply. As of 2020, Quebec produced 73% of all maple syrup globally, and its biggest customer by far is the United States, which accounts for around 60% of Canada export volume.

Canada Plans to Release Maple Syrup from ReserveThe strategic reserve was created to keep maple syrup in stock during bad harvest seasons or demand spikes. That is the case right now, following a hot and short spring that led to a lower yield. In 2021 an average year for maple production in Quebec, with a harvest estimated at 133 million pounds, but sales rose 21% compared to last year, straining the available supply.

QMSP did not immediately respond to requests. Helene Normandin said that the pandemic helped in our case because we’re seeing people cook more at home and use more local products. It is not just in Quebec the demand is increasing. The reserve has made headlines in the past. Between 2011 and 2012, 3,000 tons of maple syrup, valued at nearly 20 million Canadian dollars, were secretly siphoned from the reserve in a notorious theft known as the Great Canadian Maple Syrup Heist.

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