Maple Syrup Shortage Could Be A Sticky Situation
Amid projected maple syrup shortages, Canada is tapping into its reserves. The Quebec Maple Syrup Reserves, a quasi-government agency, said on November 30 that it will release about 50 million pounds from its strategic syrup reserves. This volume represents almost half of the Canadian stockpile of maple syrup. The strategic reserve was created to help manage prices and supply. A hot and short spring led to reduced yield this year, and sales of maple syrup rose by 21% which further strains the available supply. The United States accounts for 60% of the maple syrup exported from Canada even though it is also produced in states including Vermont and Michigan. The USDA sets grades and standards for maple syrup sold in the United States.
Interested in trends? Check out Regulatory Trends, our AI-based monitoring system.
Picture Credit Susanne Kuehne
Posted on 16 December 2021