Canada's OPEC of maple syrup announced that it will release half of its strategic reserves to the tune of 50 million pounds of maple syrup due to a worldwide shortage of the traditional waffle and pancake topping.
Some 11,000 Canadian maple syrup producers control about 70% of the world's maple syrup supply, and the stranglehold on the market has been compared to the Organization of the Petroleum Countries' grip on oil, according to The New York Post.
The group says they have had a surge in demand due to more people cooking at home during the epidemic, coupled with a 24% drop in production during the spring due to warmer temperatures and a shorter season.
The Quebec Maple Syrup Producers plan to authorize more production next season in order to make up for this year's drop, but they also plan to allow more production next season. According to NPR, the group will tap an extra 7 million trees in an effort to get back to normal production levels and replenish their reserves.
The reserve is made to never miss maple syrup, according to Quebec Maple Syrup Producers' communications director Helene Normandin. We won't miss maple syrup!