Quebec’s strategic maple syrup reserve, a stockpile spanning three warehouses, will be “completely depleted” by the end of February, according to the group that manages the supply.
While the reserve was established to ensure prices and supply remain relatively stable against the unpredictability of maple harvests, the current draw-down is driven by a different factor: authorized processors have moved the syrup into their own private warehouses to meet surging international orders.
The strain on the reserve reflects a broader evolution in the industry. Canadian exports of maple products increased by 15.8 percent in 2025 compared to the previous year, following a 9.34 percent rise from 2023 to 2024. Statistics Canada reported that $844.2 million worth of Canadian maple products were exported last year, a 17.2 percent increase from the previous year.
Luc Goulet, president of the Producteurs et productrices acéricoles du Québec, described the depletion as a result of a “sharp rise in exports.” Goulet said that while the reserve is hitting zero, the industry is navigating a high-growth phase.
“When there’s a bad harvest, [they] can dip into that reserve to supply the market,” explained Maurice Doyon. He added that the strategic intent has always been to manage supply fluctuations.
The PPAQ estimates that buyers have added more than 35 million pounds (approximately 15.8 million kilograms) to their own storage facilities.
The PPAQ expects the strategic reserve to be empty “once all volumes under contract have been delivered to buyers,” but the organization stated the overall supply remains similar to what it was a year ago.
The maple syrup sector remains a major economic engine in Quebec, which produces over 70 percent of North American supply. In 2025, the industry contributed $1.21 billion to the gross domestic product and generated $285 million in tax revenue. Despite the empty reserve, Goulet remains optimistic about the potential for further growth, noting that there is “still a great deal of untapped potential in Quebec’s maple groves.”
However, the industry faces the perennial risk of weather dependency. As Goulet told reporters, “We’re having trouble to know ahead of time whether it will be a bad year.” He emphasized that the industry’s reliance on the reserve is a safeguard against environmental uncertainty. “And with the reserve now sitting empty and climate change fuelling uncertainty, “we’re ultimately at the mercy of that uncertainty,” he told CBC.
What happens if the next harvest fails to meet market demand while the reserve remains empty?
