Maple syrup reserve in Quebec runs dry as global demand soars

Quebec’s strategic maple syrup reserve has been completely used up, following a surge in demand for the natural sweetener.

The reserve is managed by Quebec Maple Syrup Producers. It is designed to keep supply and prices stable, as the size of each harvest depends heavily on the weather. The reserve has been described as a ‘cushion’ that is there to help avoid wild fluctuations in supply and demand, which may lead to intense, uncontrolled competition to bulk buy maple syrup.

Stocks have plummeted after commercial buyers in the US stockpiled maple syrup last year, while sales have continued to rise around the world.

Speaking to the Canadian Press, Luc Goulet, president of Quebec Maple Syrup Producers, reported that strategic reserves had been reduced to zero. Goulet went on to recall the shortages of 2007 and 2008, adding:

“We lost some markets because the product wasn’t available. Then, consumers very quickly turn to another sweet product. And once that happens, those consumption habits are established.”

Quebec produces an average of 72% of the world’s maple syrup, figures from Quebec Maple Syrup Producers show.

According to trade publication The Maple News, the syrup has not disappeared from the market, but has instead moved from the reserve into buyers’ own warehouses. Supply problems are not expected in 2027, even if the coming harvest is weak, and there are hopes for an exceptional season to help rebuild the reserve. Quebec is also expected to increase its production capacity over the coming years.