The association of Quebec maple syrup producers frees up half of its “strategic reserve” in order to deal with a global shortage of Quebec “blond gold”.
Hélène Normandin, communications director for Quebec Maple Syrup Producers, said on Monday that the organization would put 50 million pounds of maple syrup on the world market by February – a value of around $ 150 million.
Mme Normandin says demand for maple syrup exceeds supply this year. She explains that Canadian maple syrup exports – mainly from Quebec – have increased by 20% since January 2020.
Meanwhile, a particularly mild winter last year brought down production of around 40 million pounds of syrup from the previous year, to 133 million pounds.
Mme Normandin assures, however, that consumers should not worry because his organization has created a strategic reserve to deal with such seasonal shortages.
This reserve, created in 2000, can hold up to 100 million pounds of maple syrup.
Quebec produces nearly three quarters of the world’s supply of maple syrup and exports this product to more than 60 countries.