Quebec’s strategic maple syrup reserve is nearly exhausted, with the Quebec Maple Syrup Producers forecasting that stocks will be depleted by February. Canada accounted for more than 75% of global maple syrup production in 2025, and Quebec supplied 90% of Canadian output. The reserve’s three warehouses can accommodate approximately 218,000 barrels. While production will continue, an empty stockpile would remove a buffer against weather-related fluctuations in output.
American buyers accelerated purchases in 2025 ahead of anticipated tariffs associated with President Donald Trump’s trade policies. Canadian syrup exports consequently surged by nearly 16%, compared with 9% growth in 2024, even as production declined by 5%. Export growth subsequently slowed to 2.5% year on year during the first eight months of 2026. Although producers have expanded into other markets, the United States still receives around 65% of Canada’s syrup exports, down from 80% two decades ago.
Despite the depleted reserve, Simon Doré-Ouellet, deputy general manager of the producers’ organisation, says market supplies are secure for the coming year. Nevertheless, replenishing the stockpile will be necessary over the next few years, and a favourable production season in 2027 would help. Quebec has expanded production capacity by 50% over six years, adding more than 21 million taps for collecting maple sap. That expansion could support recovery in a good season, although unfavourable weather remains a potential disruption.
