The Quebec Maple Syrup Producers Cartel Is Releasing Nearly Half the Stockpile
Canada’s “OPEC of Maple Syrup” announced that it is releasing half of its strategic stockpile – to the tune of £50 million – of maple syrup, due to a worldwide shortage of traditional waffle and pancake toppings.
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Quebec maple syrup producers include approximately 11,000 Canadian maple syrup producers, who control approximately 70% of the world’s maple syrup supply, and its hold on the market is “compared to the organization of petroleum countries’ hold on oil”. New York Post,
But the group says their demand has increased due to more people cooking at home amid the pandemic, as well as a 24% year-over-year drop in production due to shorter seasons as well as warmer temperatures during the spring. I have come
Quebec maple syrup makers will not only release their stockpile, but plan to authorize more production next season for fall this year. According to NPR, the group will tap an additional 70 lakh trees in an effort to get back to normal production levels and replenish its reserves.
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“That’s why the reserve has been created to never miss out on maple syrup,” Helen Normadin, communications director for Quebec Maple Syrup Producers, told the outlet. “And we won’t miss the maple syrup!”