Producers and processors of Quebec maple syrup have reached an agreement boosting the bulk price and pegging it to the Consumer Price Index.
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Quebec’s Producers’ Federation has increased prices for years with production quotas, while a marketing board monopolized all bulk sales. Housed in colossal vats, stocks have dropped 13.5% from 60m litres five years ago. Syrup now fetches record retail prices – up to $18 per litre.
An export marketing strategy vastly increased sales to Japan, with producers now targeting the United Kingdom as part of a US$3m marketing push. Quebec produces 34,000 tonnes annually, approximately 80% of world syrup production.
