Canada’s “OPEC of Maple Syrup”

Maple syrup may be one of the items included in the recent shortage, but the Canadians aren’t worried. That's because they have what's called an OPEC of maple syrup in their strategic reserves. The Quebec Maple Syrup Producers is made up of some 11,000 Canadian maple syrup producers and controls roughly 70% of the world’s maple syrup supply. The group says they’ve been hit with a surge in demand due to more people cooking at home amid the pandemic, a 24% year-over-year drop in production due to warmer temperatures during spring, and a shorter season. That’s why Quebec Maple Syrup Producers will release its reserves, as well as authorize more production next season. The group will tap an extra seven million trees in order to get back to typical production levels and replenish their reserves. That’s the most the group has released from the reserve in a single season since 2008 and amounts to about half of the entire stockpile.