Quebec’s strategic maple syrup reserve is running dry this winter because surging global demand exhausts the province’s price-stabilization buffer.
“Our strategic reserve has been reduced to zero,” Luc Goulet said in an interview at the release of a report on the industry’s economic benefits.
Tariff Fears Drain Buffers
Established in 2000 by the producers’ association to stabilize prices and supply, the reserve has faced extreme pressure from commercial buyers. Last year, U.S. commercial customers stocked up on inventory out of concern that President Donald Trump would impose tariffs.
Goulet warns that the exhaustion of the buffer leaves the sector vulnerable if weather conditions produce poor sap yields.
Stock shortages in 2007 and 2008 offer a cautionary precedent for the inventory depletion.
“We lost some markets because the product wasn’t available,” Goulet told The Epoch Times. “Then, consumers very quickly turn to another sweet product. And once that happens, those consumption habits are established.”
Exports Increased Despite Empty Reserves
Foreign sales continue to climb while the reserve sits empty. Louis Turenne, president of the Maple Industry Council representing authorized buyers, said that exports increased by 9.34 percent in 2024 compared to the previous year.
The pace accelerated in 2025 with a 15.8 percent increase as the threat of new tariffs loomed over the industry.
Exports rose at a slower rate in 2026 — 2.48 percent from January through August compared to the same period the previous year.
“It’s always hard to beat an exceptional year,” Turenne said.
Quebec accounts for more than 70 percent of North American production. Nearly 65 percent of maple syrup exports go to the United States.
“We’ve made significant progress in diversifying our markets in recent years. Twenty years ago, that figure was 80 percent,” Turenne said. “But we need to accelerate the opening and development of European, Australian, and Asian markets to become less dependent on the U.S. market.”
Economic Contributions and Government Support
The maple syrup industry contributed $1.21 billion to the gross domestic product in 2025 when production, processing, and specialized equipment manufacturers are included, according to the industry report released on Thursday.
The sector employs more than 10,000 full-time equivalent workers and generated $285 million in tax revenue, excluding municipal taxes and fees for public land leases. These figures exclude sugar shacks, which Turenne said are “more akin to the restaurant industry.”
Goulet argues that government support is insufficient despite these economic gains.
Investments from Quebec City “are too low for our liking,” Goulet said, adding that he hopes to secure the backing of the newly-elected Parti Québécois government.
“When we’re told that we have an industry that’s thriving, that we’re growing, and that we don’t need support — well, I no longer accept that line of reasoning at the government level,” he said.