Quebec maple syrup reserve is expected to be depleted by February 2027
Quebec’s syrup reserve is nearly exhausted, but producers say inventory in buyers’ warehouses should cover the coming year.
By Hana Yoshida · Markets Reporter
3 min read
Quebec’s maple syrup reserve is expected to be depleted by the end of February 2027, removing a stockpile used to steady supplies when harvests vary. The Quebec maple syrup reserve depleted does not mean syrup is currently unavailable: the group overseeing it says overall supply is similar to a year ago because inventory has moved into buyers’ warehouses.
The reserve is managed by Producteurs et productrices acéricoles du Québec, or PPAQ, which represents nearly 13,500 producers. Simon Doré-Ouellet, deputy general manager of Quebec Maple Syrup Producers, told the Toronto Star that all remaining reserve volumes were expected to be sold by the end of February 2027.
What does an empty Quebec maple syrup reserve mean?
The reserve is a central stockpile designed to help stabilize supply and prices during uneven harvests. It spans three Quebec warehouses and can hold about 218,000 barrels, or 133 million pounds, of syrup, according to the Toronto Star.
Maple production depends on spring cycles of freezing and thawing that allow trees to produce sap, CBC News reported. The reserve can be released in a weak production year, so its depletion leaves the industry with less centralized protection if a future harvest falls short.
That risk is conditional. Doré-Ouellet said market supply is secure for the coming year, though he said the industry could have difficulty serving some markets if weather reduced output. He also said the reserve would need to be rebuilt over the following years.
Why is the reserve running down?
Higher demand is the principal backdrop. Canadian maple-product exports rose 15.8% in 2025 after increasing 9.3% from 2023 to 2024, according to data cited by CBC from Quebec’s processors’ council.
Guillaume Moreau, a Université Laval professor, told the Toronto Star that purchases by U.S. buyers concerned about possible tariffs were one factor, along with maple syrup’s expanding global popularity. A Quebec Agriculture Ministry spokesperson also said some U.S. exports had been brought forward.
Those purchases do not establish a current retail shortage. PPAQ told CBC that the reserve would be exhausted after contracted syrup was delivered, while inventories had shifted to buyers’ warehouses. The organization estimated that buyers’ stocks had increased by more than 35 million pounds.
Quebec’s role in maple syrup supply
Canada produced more than 75% of the world’s maple syrup in 2025, and Quebec accounted for 90% of Canadian output, according to figures cited by the Toronto Star. The United States remains a major market, receiving about 65% of Canadian syrup exports, Fortune reported.
Producers have expanded capacity as demand has climbed. Doré-Ouellet said Quebec increased production capacity by 50% over six years, adding more than 21 million taps. Whether that is enough to replenish the reserve will also depend on future weather and harvests.
This story draws on original reporting from Fortune.