Producers and processors of Quebec maple syrup have reached an agreement boosting the bulk price and pegging it to the Consumer Price Index.
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.