Record Harvest: 239 Million Pounds of Maple Syrup

DRUMMONDVILLE, QC, May 30, 2024 /CNW/ - The membership of Québec Maple Syrup Producers (QMSP), gathered today in Drummondville for the organization's annual general meeting, was first to hear the good news: their efforts in the forests this spring brought forth an all-time record harvest. The official 2024 figures, compiled in a phone survey by Groupe AGÉCO, come to 239 million pounds of maple syrup, average production of 4.47 pounds per tap, and a total value of some $750 Million.

"And the syrup is of excellent quality," said QMSP President Luc Goulet. "We are especially happy because, like other agricultural sectors, our producers are coping with higher input costs and interest rates, not to mention last year's poor harvest. This record harvest will allow us to serve the rising demand from domestic and foreign consumers." 85% of the maple syrup produced in Québec is destined for export.

A New Challenge for the QMSP Strategic Reserve Program
Last year's low harvest necessitated drawing on maple syrup inventories held in the Global Strategic Reserve, dropping the stockpile to its lowest level since 2008. This year's bumper crop will safely meet consumer demand, with enough surplus that QMSP expects to be able to replenish its warehouses to the tune of several million pounds of maple syrup. While this is an excellent development, it gives rise to a different challenge: financing unsold inventory.

"Since its creation in 2000, maple producers have been required to set aside a portion of their annual production in the Strategic Reserve. This ensures a constant supply regardless of shortfall (last year) or surplus (this year) and stabilizes prices from year to year. Everybody wins."

But there is a cost. "The issue for producers is that they are not paid for the maple syrup placed into inventory until it's sold, resulting in additional financial pressure. Add to this climate change, which is causing even greater production variations. This is why we're asking the government to share responsibility with us and help finance this unique and effective reserve strategy," said Mr. Goulet.

The fluctuations in production and precipitous drop in inventories, coupled with ever-growing demand, led to world-wide headlines of a maple syrup shortage over the past year. QMSP met the potential crisis head-on by issuing additional quotas in 2021 and 2023. Of the 14 million taps awarded to new and existing producers, 6.5 million are already in production, representing an average annual capacity of some 20 million pounds of syrup and contributing to this year's record harvest. The remainder of the 2023 issuance must be installed by April 1, 2026.

QMSP Members Elect Goulet to Another Two-Year Term
Luc Goulet now begins his second mandate as president of Québec Maple Syrup Producers. In accepting, he expressed satisfaction with the organization's progress and the battles they have fought to protect the maple industry on both public and private forestlands. But he says the struggle continues, as numerous consultations have not yet resulted in concrete government action. "We producers are making our voices heard on the need to put more public forest into maple production and support our ability to protect biodiversity. Minister Maïté Blanchette Vézina herself has said the status quo is no longer sustainable. I'll take it a step further: we need a mini-revolution in public forest management. A maple forest standing strong and healthy is worth far more to us all than it would be cut to the ground."

The Groupe AGÉCO phone survey that generated this year's production statistics involved the owners of 1,234 maple enterprises of all sizes in all the maple-producing regions of Québec between April 22 and May 7, 2024. Its degree of accuracy is ±3.4 %, 19 times out of 20.

About Québec Maple Syrup Producers and the Maple from Canada Brand 
Québec Maple Syrup Producers (QMSP) represents the interests of 13,300 maple producers and more than 8,000 maple enterprises. Québec accounts for an average 72% of the world's maple syrup, exporting it to over 70 nations.

QMSP.ca – @AcericoleQc
Gallery and The Maple Economy and Statistics

SOURCE Québec Maple Syrup Producers

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