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Quebec's Maple Syrup Reserve Near Empty
25 Oct
Summary
- Quebec's strategic maple syrup reserve is predicted to be empty by February.
- Canadian syrup exports increased due to rising demand and diversification.
- Global commodity reserves, like oil and pork, have also seen drawdowns.
The strategic reserve of maple syrup in Quebec, Canada, is anticipated to be entirely depleted by February. This critical stockpile, managed by the Quebec Maple Syrup Producers, holds approximately 218,000 barrels across three warehouses.
Despite the impending shortage in reserves, Canada continues to lead global maple syrup production, accounting for over 75% in 2025, with Quebec contributing 90% of this output. The demand for Canadian maple syrup has surged in recent years, with exports expanding to markets beyond the U.S. Last year, exports saw a nearly 16% increase, partly influenced by trade war anticipations.
However, production has lagged, falling by 5% last year, while export growth has slowed to 2.5% annually in the first eight months of 2026. Producers are looking to a strong production season in 2027 to replenish reserves, supported by a 50% increase in production capacity over the past six years.
This situation mirrors global trends where other countries are also drawing down strategic reserves of key commodities. For instance, oil-consuming nations are tapping crude stockpiles, the U.S. Strategic Petroleum Reserve is at a 30-year low, Japan has managed its rice reserves amid price surges, and China is dealing with an oversupply in its pork reserve due to a weak consumer economy.
