| | | Amid shortages, Canada is tapping into its strategic reserves. This time, for maple syrup.
The Quebec Maple Syrup Producers said it is releasing roughly 50 million pounds from its strategic maple syrup reserves, the trade group confirmed to CNN Business. That’s almost half of the stockpile.
Canadian maple syrup is displayed for sale at a gift shop in downtown Victoria, British Columbia, Canada, on Monday, Nov. 25, 2013. Photographer: Ben Nelms/Bloomberg via Getty Images
The government-supported organization, which is often called the OPEC of maple syrup, uses its reserves to control syrup prices and supply. As of 2020, Quebec produced 73% of all maple syrup in the world, and its biggest customer by far is the United States, which accounts for around 60% of Canada’s export volume. |
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