The organization governing Quebec’s maple syrup producers is releasing half its strategic reserve to address a global shortage of the province’s “blond gold.”
Helene Normandin with Quebec Maple Syrup Producers says the group will be releasing 23 million kilograms (50 million pounds) of maple syrup — worth about $150 million — on the world market by February.
Normandin says the demand for maple syrup this year is outstripping supply.
She says Canadian maple syrup exports — most of which come from Quebec — have risen 20 per cent since January 2020, adding that last year’s warm winter resulted in the production of about 60 million kilograms (133 million pounds) of syrup, down 18 million kilograms (40 million pounds) compared with the prior year.
Normandin says people shouldn’t worry because her organization created the strategic reserve specifically to address shortages.
The reserve was created in the year 2000 and can hold up to 45 million kilograms (100 million pounds) of maple syrup.
Quebec produces nearly three-quarters of the global maple syrup supply and exports the product to more than 60 countries.