If your short stack has been feeling a little dry lately due to a lack of (affordable) syrup -- that's all about to change ... because Canada is tapping its stockpile of sweet nectar.
Quebec Maple Syrup Producers -- a quasi-government-sanction agency accounting for over 70% of the world's maple syrup production -- just announced they're going to start draining upwards of 50 million pounds of syrup from barrels they have in their strategic reserve.
Yes, strategic reserve ... just like the ones we're about to tap to help lower gas prices here in the States. Apparently, Canada has a sea of this condiment at the ready for emergencies.
Welp, that emergency is here ... as the global economy deals with a supply crisis -- due, in part, to the pandemic among other factors -- QMSP says it's time to dip into what they have on hand to make sure countries around the world, especially its #1 customer in the U.S., can keep on drizzling their waffles and pancakes with ease and within reasonable price ranges.
Word is ... this harvest season made for a bad batch of syrup, meaning not nearly enough was produced due to a warmer/shorter spring season ... the ideal conditions for which are needed to see a solid yield. Add in the fact more people are cooking from home right now -- and you have a lopsided supply/demand equation ... hence them going to the reserves.
This will be the most syrup they've tapped since 2008. A rep for the org says, "The reserve is there to make sure that we are always able to sell and offer this product."
The OPEC of maple syrup is dipping into its strategic maple syrup reserve to cover this year's harvest shortfall https://t.co/CsnyZ2fJHM via @markets
— Mike Shepard (@MikeShepard4) November 19, 2021
In anticipation for next year ... a reported 7 million additional syrup taps have been OK'd.