Canada’s maple syrup OPEC draws on strategic reserves amid global scarcity – .

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Canada’s maple syrup OPEC draws on strategic reserves amid global scarcity – .


Canada’s maple syrup OPEC has announced it is releasing about half of its strategic reserves – to the tune of 50 million pounds of maple syrup – due to a global shortage of traditional waffle filling and pancakes.

Close-up of a young woman at a cafe table pouring hot maple syrup over pancakes (iStock / iStock)

OPEC CONSIDERS TO PAUSE THE INCREASE IN OIL PRODUCTION AFTER BIDEN RELEASES MORE CRUDE

The Producers of maple syrup of Quebec, which brings together some 11,000 Canadian maple syrup producers, control about 70% of the world maple syrup supply, and its stranglehold on the market has been “compared to the ‘Organization of the Petroleum Countries’ grip on petroleum,’ according to The New York Post.

But the group says it has been hit by an increase in demand due to the growing number of people cooking at home amid the pandemic, coupled with a 24% year-over-year drop in production due to warmer temperatures in spring and a shorter season.

A system of tubes flows from a tapped maple tree in the Wagler Maple Products sugar bush in Wessesley, Ontario, Canada (Photographer: James McDonald / Bloomberg via Getty Images) (James McDonald/Bloomberg via Getty Images)

Not only will the Quebec Maple Syrup Producers release their reserves, but they plan to authorize more production next season to offset this year’s drop. According to NPR, the group will harvest an additional 7 million trees in an attempt to return to normal production levels and replenish its reserves.

Maple syrup
MONTREAL, QC – MARCH 18: Members of Team Canada drink maple syrup after placing third in the men’s 5,000-meter relay final at the World Short Track Speed ​​Skating Championships at the Maurice Richard Arena on March 18, 2018 in Montreal, Quebec, Canada (Photo by Minas Panagiotakis – International Skating Union / International Skating Union via Getty Images / Getty Images)

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“This is why the reserve is made, to never run out of maple syrup,” said the communications director of the Producers of Quebec maple syrup, Hélène Normandin. “And we won’t run out of maple syrup! ”

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