We know things have got so bad when...
Facing shortages, Canada taps its strategic reserves of maple syrup
Amid shortages, Canada is tapping into its strategic reserves. This time, for maple syrup.
The Quebec Maple Syrup Producers, a leading trade group, said it is releasing roughly 50 million pounds from its strategic maple syrup reserves, almost half of the stockpile, ...
The government-supported organization, which is
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 in the world, and its biggest customer by far is the United States, which accounts for around 60% of Canada's export volume.
The strategic reserve was created to keep maple syrup in stock during bad harvest seasons or when demand spikes. That is the case right now following a hot and short spring that led to a lower yield. ...
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.