Kamis, 02 Desember 2021

Ontario’s ‘right to disconnect’ law has just been passed — so do you actually have the right to disconnect? - Toronto Star

Ontario’s new law on employees’ right to disconnect is vague and offers little protection, experts say — but it could still prompt employers to take a hard look at the work-life balance in their organizations, from setting up out-of-office emails to reducing daily video calls.

The Working for Workers Act passed on Tuesday, including among its provisions a new law that employers with 25 or more employees create a written policy about the right to disconnect from email contact and calls outside of regular work hours. Employers have six months after the law gets royal assent to comply.

Labour Minister Monte McNaughton said the lines between personal time and work time became blurred during the pandemic when many white-collar workers began working from home for the first time.

Ontario is the first province to pass a law about the right to disconnect, said the minister. Employers will have to be transparent with employees about their right-to-disconnect policy, he said, and workers can also ask prospective new employers about such a policy as part of their interview process.

“The best employers will ensure that there is work-life balance, because that’s going to be a competitive advantage for them to retain and attract workers,” McNaughton said.

Alexandra Samuel, author of “Remote Inc.,” said many people worked remotely before the pandemic, and had worked out policies and strategies to keep a healthy balance. However, the huge number of workers who suddenly started working remotely in 2020 didn’t have that same experience, she said, and neither did their employers.

“People who were working remotely before the pandemic did not experience the same degree of ... burnout that we saw among new remote workers,” Samuel said.

One of the main factors in that burnout wasn’t simply the pressure to respond to emails after hours. It was the structure of the work day that often led to after-hours work, explained Samuel: in-person office culture did not translate well to the home, and many people found themselves in back-to-back video meetings that wasted precious time, while trying to handle their home responsibilities.

“I think that a lot of the overload comes from the fact that written communication is being pushed to the margins by an overreliance on video calls.”

Some organizations were ahead of the curve when the pandemic began.

Communications firm Edelman Canada, for example, instituted in 2013 a right-to-disconnect policy which urges employees to avoid email traffic between 7 p.m. and 7 a.m, said chief operations officer Bianca Boyd.

“We default to seven to seven, so anything outside of that should be the exception and not the norm,” she said.

When the pandemic began, the policy was extended to the company’s offices worldwide, said Boyd. The organization also lets people work hours that better fit their own schedules, as long as they respect others’ right to disconnect.

Andrew Caldwell, advice-team lead with HR firm Peninsula Canada, said it’s unclear yet what this new law will look like in practice, including who might be exempted from the right to disconnect.

“It’s this vague idea that’s been put out there, but there’s no substance behind it as of yet,” he said.

The law doesn’t dictate the content of the policy, said Caldwell, so employers will have to determine what their policy needs to include. He suggests that organizations use out-of-office emails to make clear when someone isn’t available, and outline emergency exceptions to the rule.

Samuel said any organization seeking to improve its policies on work-life balance should look not only at the right to disconnect outside of work hours, but what those work hours are and how they should be spent. For example, some people might want to do an hour or two of work in the evenings and get some errands done during the day, she said. Others might have an easier time shutting off communication at 6 p.m. if they have fewer video meetings cluttering up their schedule.

“Organizations are using the transition back to the office as the opportunity to develop coherent strategies and policies around hybrid work, that also then create some more thoughtful agreements around remote work,” said Samuel.

He cautions that it’s still a mixed bag: “I think it’s been a mix of organizations putting explicit policies in place, managers getting smarter and less controlling about how they support their team members, and then individuals figuring out the strategies they can use for their own work.”

Employment lawyer Jon Pinkus thinks the law itself is “toothless,” too vague to hold employers accountable.

“It sets no minimum standards for what ... the right to disconnect has to be,” said Pinkus. “It really imposes a procedural obligation on the employer without imposing any substantive obligation.”

Without more specific minimum standards, Pinkus isn’t confident the law will have a significant impact on most employees. Still, he acknowledged it will likely galvanize some employers to take such a policy seriously and listen to employees’ concerns.

“I think that employers who are potentially somewhat inclined to do something may use this as kind of a wake-up call,” Pinkus said.

McNaughton said the law is “a start,” and left the door open for future tweaks or specific provisions to be added to the law.

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2021-12-02 10:08:36Z
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TD raising dividend, plans to buy back up to 50 million shares - BNN

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TD Bank Group kept pace with its peers in dishing out rewards to its shareholders on Thursday.

The bank announced it will raise its quarterly dividend 13 per cent to $0.89 per share, effective Jan. 31. It also said it's seeking regulatory approval to repurchase up to 50 million of its shares. 

All five of the big Canadian lenders that have reported this week announced similar moves after the Office of the Superintendent of Financial Institutions recently ended its ban on buybacks and dividend hikes. Bank of Montreal, the last of the Big Six banks to report earnings, will announce its results on Friday. 

TD's full-year profit climbed to $14.3 billion compared to $11.9 billion in 2020, the bank also announced on Thursday. In the fiscal fourth quarter, which ended Oct. 31, net income fell to $3.8 billion from $5.1 billion a year earlier when it got a $1.4-billion lift from the sale of its stake in TD Ameritrade. 

On an adjusted basis, TD earned $2.09 per share in the most recent quarter. Analysts, on average, were expecting $1.96.

TD's American unit was the primary driver in the fiscal fourth quarter, as the division's net income surged 66 per cent year-over-year to US$1.09 billion. Stripping out an investment in Charles Schwab, profit for the core U.S. retail banking operations soared 123 per cent to US$897 million as revenue climbed and US$62 million was freed up after previously being set aside for loans that could go bad. 

In Canada, TD's retail banking division saw profit rise 19 per cent year-over-year to $2.14 billion. Similar to the U.S., revenue rose year-over-year and credit quality improved. However, those factors were partially offset by an eight per cent rise in expenses -- which TD said was due to higher variable compensation and investments in technology. 

Meanwhile, the bank's wholesale division -- which comprises activities like capital markets and investment banking -- was a drag on profit as net income from that unit slid 14 per cent to $420 million. TD said its trading revenue in the quarter fell to $510 million from $761 million a year earlier. 

"We  ended the  year  in  a  position  of  strength,  with a  growing  base of  customers  across  highly  competitive  and  diversified  businesses  and  a  robust capital  position, enabling  us  to increase  our  dividend  and providing us  with a strong  foundation  upon which to  continue  building  our  business  in  2022," said TD President and Chief Executive Bharat Masrani in a release.

Editor’s note: The original version of this story incorrectly presented the dividend increase as being 11 per cent. We regret the error.

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2021-12-02 11:45:38Z
1196218384

Rabu, 01 Desember 2021

Natural Gas Price Forecast - Natural Gas Markets Continue to Plunge - FX Empire

Natural gas markets have plunged during the trading session on Wednesday as we continue to see the milder temperatures in the United States act like a wrecking ball for pricing. Unfortunately, most retail traders, and quite frankly quite a few professional ones, have no idea that this is a US contract. It does not matter what happens in Europe, and that is the most important thing that I can impart to you at the moment. The reason being is that the United States can only export about 12,000,000,000 ft.³ of natural gas, which is nowhere near to make a dent into what is going on in the European Union.

NATGAS Video 02.12.21

At the same time, temperatures in the United States falling of course would be bullish for this market but quite frankly this looks like another mild winter. In other words, demand is not going to be a strong as one would think. Furthermore, we are trading the January contract, so this is the absolute “peak season” for natural gas demand. If we continue to see temperatures look somewhat buoyant, that will mark the end of the trend.

Furthermore, I think that we have to worry about whether or not there is going to be enough industrial demand as there are a lot of concerns about the economy slowing down. Inflation seems to be peaking, and that has its say in this market as well. If that is going to be the case, then commodities in general could be in trouble. Natural gas was without a doubt overdone to begin with, and now that we have broken through the bottom of a massive descending triangle, it is possible that we continue to go much lower. I am now looking for signs of exhaustion to short.

For a look at all of today’s economic events, check out our economic calendar.

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2021-12-02 00:41:41Z
811466147

RBC raises dividend, reports profits up but under pressure from interest rate margins - Yahoo Canada Finance

TORONTO — Royal Bank of Canada raised its dividend Wednesday as it reported a rise in fourth-quarter profits from last year, though it said earnings were hit by lower margins in part from low interest rates and heightened competition.

The bank said it will now pay a quarterly dividend of $1.20 per share, up 11 per cent from $1.08 per share, after the federal banking regulator lifted the restrictions it imposed on banks and insurers at the start of the pandemic on increasing payouts. RBC said it also plans to buy back up to 45 million shares, representing about three per cent of existing stock.

The quarter saw mortgage activity reach new heights, with RBC boosting its total residential mortgage loans to $330 billion in the quarter ending Oct. 31, up 2.5 per cent from the previous quarter, 12.5 per cent from a year earlier, and up 25 per cent from the last quarter of 2019.

Net interest margin, a measure of profitability, was down nine basis points from the previous quarter in Canadian banking because of several issues, including a lower spread on mortgage loans.

"You saw the momentum in the quarter-over-quarter numbers, which positions us well," said David McKay, chief executive of RBC on an analyst call Wednesday. "Our disappointment also was that we didn't drive as much to the bottom line as we would normally with that type of volume."

Neil McLaughlin, group head of personal and commercial banking at RBC, said there was exceptionally strong mortgage volume across the industry for a record amount of originations, which has created price pressure in the mortgage business.

"With that really strong market and all that demand, you know, increased price pressure from competition. So it's been a very tight market."

The bank's earnings were also hit by a narrower interest margin in its U.S. business, with a 20-basis-pointdrop at its City National Bank in part because of fees related to the federal Paycheck Protection Program, as well as from the overall asset mix.

Going forward, the bank expects to benefit from higher interest rates as central banks respond to inflationary pressures.

McKay noted that lower interest rates have reduced the bank's revenue by about $1 billion a year for the past two years, mostly in Canadian banking and U.S. wealth management, while Nadine Ahn, chief financial officer at the bank, said that a 25 basis point increase in interest rates could boost revenue by $250 million over 12 months across those two divisions.

The low rate environment has helped the credit picture of the bank's lending portfolio, allowing the bank to decrease provisions for credit losses on loans by $616 million from a year ago.

That helped boost earnings to $3.9 billion for the quarter, up from $3.2 billion in the same quarter last year.

RBC says its profit amounted to $2.68 per diluted share for the quarter ended Oct. 31, up from $2.23 per diluted share a year ago. Revenue totalled $12.4 billion, up from $11.1 billion in the same quarter last year.

Adjusted profit amounted to $2.71 per diluted share, up from $2.27 per diluted share in the same quarter a year earlier.

Analysts on average had expected an adjusted profit of $2.81 per share, according to estimates compiled by financial markets data firm Refinitiv.

"[RBC] incurred margin compression on both sides of the border, with strong loan growth unable to offset the pressure on revenues," noted Barclays analyst John Aiken.

He said that bank lending outside of mortgages, such as credit cards, could help boost interest margins, while growth in areas less dependent on interest rate margins such as capital markets and traditional wealth management could also boost earnings.

Aiken also noted that the challenges RBC faces are industry-wide.

"The quarter was not as robust as we would have liked but this appears to be a sector-wide, rather than stock-specific, phenomenon this quarter."

Another sector-wide challenge lurking ahead is a proposed three percentage point corporate income surtax on large banks and insurers that the Liberal party promised in its election campaign.

McKay said on the call that it was not the time for such measures, and that singling out certain industries was not helpful in attracting capital.

"We're going through an enormous transition of our economy, supply chain transition, climate transition journey where we're going to need up to $2 trillion and therefore, creating an environment that attracts capital and where the rules around the economics are certain for a longer period of time is really important," he said.

"When you start proposing taxes right now, in this narrow way, can have a real detriment to the overall investment thesis for Canada."

RBC declined to estimate the impacts of the tax as the details of the proposal have yet to be released.

This report by The Canadian Press was first published Dec.1, 2021.

Companies in this story: (TSX:RY)

Ian Bickis, The Canadian Press

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2021-12-01 18:13:08Z
1196218384

Why Canada is unlocking its vault of maple syrup - CBC.ca

Canada's maple syrup industry has become an international focus in recent days, with headlines shouting that the country has been forced to tap into its strategic reserve to make up for shortages.

Quebec produces about 73 per cent of the all maple syrup in the world. And the Quebec Maple Syrup Producers (QMSP), an organization that governs the province's maple syrup producers, has said it will release about 22.7 million kilograms of maple syrup from its strategic reserve into the market by February.

For some, the headlines may have been an eye-opener that Canada even has a stockpile of maple syrup. CBC Explains the purpose of this reserve, why it had to be tapped into, and explores whether there was ever a shortage of maple syrup.

What is the strategic reserve?

Quebec's maple syrup industry is subject to a supply-management system, meaning it employs a quota system run by the QMSP which dictates market volume. The QMSP also controls the Global Strategic Maple Syrup Reserve, which can hold more than 45 million kilograms of maple syrup. 

The reserve was created in 2000 to keep syrup in stock and ensure a constant supply for national and international markets, regardless of the size of the harvest, Hélène Normandin, a spokesperson for QMSP told CBC's As It Happens. 

One site, the Laurierville Plant and Warehouse, in the Centre-du-Québec region, covers an area of 24,805 square metres – the equivalent of five football fields. That site alone can store 25 million kilograms of maple syrup, or 94,000 barrels.

When properly stored in barrels, maple syrup can last for many years, said Michael Farrell, the former director of Cornell University's Uihlein Forest, a maple syrup research and extension field station in Lake Placid, N.Y. 

In years when the yield is good, and more syrup is produced than needed, the extra can be sold to the QMSP and stored "so that when there's bad years, you have enough to keep people stocked up with syrup on their pancakes," Farrell said. 

"Without this in reserve [this year], there would be much less syrup up on store shelves, and the price would be much higher."

Why did they have to tap into the reserve this year?

In 2021, there was about 60 million kilograms of maple syrup produced, an average amount when compared to past years but down 18 million kilograms compared to 2020.

In this photo, a harvester taps a maple tree. Quebec's maple syrup industry is subject to a supply management system, meaning it employs a quota system run by the QMSP which dictates market volume. (CBC)

"It was an average season, not bad, but not as big as the two last seasons — 2019 and 2020 were just amazing, wonderful years of production," Normandin said.

However, worldwide demand has increased by more than 20 per cent — a spike industry experts believe was partly fuelled by more people cooking at home during the pandemic — and that has strained the supply.

How did the weather affect the yield?

Not every year is a perfect year for every agricultural harvest. And this was one of those years which was not ideal in terms of maple syrup production, said Abby van den Berg, a research associate professor at the University of Vermont's Proctor Maple Research Center in Underhill, Vt.

Many places didn't have good weather for sap flow until later in the production season, she said.

In order for sap to flow, there has to be freezing temperatures, followed by above-freezing temperatures, she said.

"There just weren't that many sap flow days," Van den Berg said.

Was there really a 'shortage' of syrup.

'Canada tapping reserve maple syrup supply amid shortage' 

'Facing shortages, Canada taps its strategic reserve of maple syrup'

It was headlines like those that made Van den Berg bristle, she said.

"We had a year where the harvest was not super. It actually wasn't terrible. It wasn't as good as it had been in past years, and the reserve was there to perform its function," she said. "And there was no disruption in supply. There is no shortage."

"All of the headlines said 'maple syrup shortage,'" she said. "And literally, there is no shortage because of the reserve."

Jugs of maple syrup line a shelf. In 2021, there was about 60 million kilograms of maple syrup produced, an average amount when compared to past years but down 40 million pounds compared to 2020. (Hallie Cotnam/CBC)

Philippe Charest-Beaudry, the owner of Ste-Anne-de-la-Rochelle, Que.-based Brien Maple Sweets, which packages and sells bottles of maple syrup, said his company has been able to fill every contract so far this year.

"I've not heard in the industry other players that were not able to meet contracts," he said.

Has the reserve ever run into trouble with its stock?

Between 2011 and and 2012 around 3,000 tonnes were stolen from a storage facility in Quebec. But it was a few years earlier than that when the strategic reserve actually did run dry.

"People probably don't remember, but in 2008, after two or three years in a row of bad production, just bad weather, [they] ran out of syrup in the reserve," said Mike Farrell 

"There was nothing there and there wasn't enough syrup to go around. Prices spiked. We lost a lot of markets for pure maple syrup,"he said. 

A tree is tapped for maple syrup harvest. Many places didn't have good weather for sap flow until later in the production season, said Abby van den Berg, a research associate professor at the University of Vermont's Proctor Maple Research Center in Underhill, Vt. (CBC)

Ray Bonenberg, former president of the International Maple Syrup Institute and a maple syrup producer near Pembroke, Ont., said 2008 was an "awful year in production."

"It was abnormally cold until April 1st and then it got really warm, and I know my season was like eight days so it was disastrous," he said. "The reserve was right down to the bottom, and has been building it up."

What does this mean for next year?

Farrell said the 22.7 million kilograms of maple syrup represents a  "significant amount to take out the reserve this year." But what does that mean for the near future of the reserve?

There are currently around 50 million maple syrup taps in Quebec. In July, the QMSP approved the issuance of seven million new ones to meet the demand.

"From our  perspective, we believe it should solve the issue on the short term basis," said Charest-Beaudry, "I don't see  a season next year where there's no more maple syrup in the grocery store."

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2021-12-01 17:28:06Z
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RBC hiking dividend, buying back shares despite Q4 profit miss - BNN

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Royal Bank of Canada announced a dividend hike and plans to repurchase tens of millions of its shares on Wednesday despite also reporting quarterly profit that trailed expectations. 

In a release, RBC said it will raise its quarterly dividend 11 per cent to $1.20 per share. The bank said it's also seeking approval from the Office of the Superintendent of Financial Institutions (OSFI) to buy back up to 45 million of its common shares.

It's the second such move this week, after Bank of Nova Scotia similarly announced plans for a buyback and dividend hike on Tuesday. Both banks are doing so after OSFI recently lifted its pandemic-era prohibition on share repurchases and buybacks. 

RBC also said on Wednesday its 2021 fiscal year profit climbed 40 per cent year-over-year to $16.1 billion. In the fiscal fourth quarter, which ended Oct. 31, the bank's net income rose 20 per cent to $3.89 billion. That bottom-line performance was helped in part by a release of $227 million from funds that were previously set aside for loans that could go bad. It's the third consecutive quarter that RBC moved cash out of its provisions for credit losses and funneled that money into its profit stream. 

On an adjusted basis, the quarterly profit worked out to $2.71 per share. Analysts, on average, were expecting $2.81. 

“Royal’s headline earnings missed expectations and, while certain adjustments can get EPS back up to consensus, earnings were supported by another strong release of credit allowances and we do not believe that the results will be viewed as high quality,” said Barclays Capital Analyst John Aiken in a report to clients. He noted that margin compression was a drag on profit in the quarter. 

"Our overall  performance  in  2021  reflected  strong  earnings,  premium  shareholder performance,  and  highlighted  our ability to successfully  navigate  a  complex  operating  environment  while  continuing  to  invest  in  talent  and  innovations  to  support  future growth," said Dave McKay, RBC's president and chief executive, in a release. 

RBC's bread-and-butter personal and commercial banking unit was the primary profit driver in the latest quarter, as net income in that division rose 35 per cent year-over-year to $2.03 billion, in part thanks to the release of $208 million that was previously provisioned for potentially sour loans.  

Royal Bank's domestic banking business also benefitted from double-digit growth in its mortgage book. Indeed, in a supplemental release Wednesday, RBC said it had an average Canadian mortgage balance of $329.5 billion in the fourth quarter; that represents year-over-year growth of almost 13 per cent compared to the balance of $293 billion in the fiscal fourth quarter of 2020. 

Fourth-quarter profit from the bank's capital markets unit rose 10 per cent to $920 million, with RBC attributing some of that to a rise in mergers and acquisitions activity. 

Meanwhile, earnings from RBC's wealth management business inched up two per cent year-over-year to $558 million.

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2021-12-01 11:16:00Z
1196218384

Why Canada is unlocking its vault of maple syrup - CBC.ca

Canada's maple syrup industry has become an international focus in recent days, with headlines shouting that the country has been forced to tap into its strategic reserve to make up for shortages.

Quebec produces about 73 per cent of the all maple syrup in the world. And the Quebec Maple Syrup Producers (QMSP), an organization that governs the province's maple syrup producers, has said it will release about 22.7 million kilograms of maple syrup from its strategic reserve into the market by February.

For some, the headlines may have been an eye-opener that Canada even has a stockpile of maple syrup. CBC Explains the purpose of this reserve, why it had to be tapped into, and explores whether there was ever a shortage of maple syrup.

What is the strategic reserve?

Quebec's maple syrup industry is subject to a supply-management system, meaning it employs a quota system run by the QMSP which dictates market volume. The QMSP also controls the Global Strategic Maple Syrup Reserve, which can hold more than 45 million kilograms of maple syrup. 

The reserve was created in 2000 to keep syrup in stock and ensure a constant supply for national and international markets, regardless of the size of the harvest, Hélène Normandin, a spokesperson for QMSP told CBC's As It Happens. 

One site, the Laurierville Plant and Warehouse, in the Centre-du-Québec region, covers an area of 24,805 square metres – the equivalent of five football fields. That site alone can store 25 million kilograms of maple syrup, or 94,000 barrels.

When properly stored in barrels, maple syrup can last for many years, said Michael Farrell, the former director of Cornell University's Uihlein Forest, a maple syrup research and extension field station in Lake Placid, N.Y. 

In years when the yield is good, and more syrup is produced than needed, the extra can be sold to the QMSP and stored "so that when there's bad years, you have enough to keep people stocked up with syrup on their pancakes," Farrell said. 

"Without this in reserve [this year], there would be much less syrup up on store shelves, and the price would be much higher."

Why did they have to tap into the reserve this year?

In 2021, there was about 60 million kilograms of maple syrup produced, an average amount when compared to past years but down 18 million kilograms compared to 2020.

In this photo, a harvester taps a maple tree. Quebec's maple syrup industry is subject to a supply management system, meaning it employs a quota system run by the QMSP which dictates market volume. (CBC)

"It was an average season, not bad, but not as big as the two last seasons — 2019 and 2020 were just amazing, wonderful years of production," Normandin said.

However, worldwide demand has increased by more than 20 per cent — a spike industry experts believe was partly fuelled by more people cooking at home during the pandemic — and that has strained the supply.

How did the weather affect the yield?

Not every year is a perfect year for every agricultural harvest. And this was one of those years which was not ideal in terms of maple syrup production, said Abby van den Berg, a research associate professor at the University of Vermont's Proctor Maple Research Center in Underhill, Vt.

Many places didn't have good weather for sap flow until later in the production season, she said.

In order for sap to flow, there has to be freezing temperatures, followed by above-freezing temperatures, she said.

"There just weren't that many sap flow days," Van den Berg said.

Was there really a 'shortage' of syrup.

'Canada tapping reserve maple syrup supply amid shortage' 

'Facing shortages, Canada taps its strategic reserve of maple syrup'

It was headlines like those that made Van den Berg bristle, she said.

"We had a year where the harvest was not super. It actually wasn't terrible. It wasn't as good as it had been in past years, and the reserve was there to perform its function," she said. "And there was no disruption in supply. There is no shortage."

"All of the headlines said 'maple syrup shortage,'" she said. "And literally, there is no shortage because of the reserve."

Jugs of maple syrup line a shelf. In 2021, there was about 60 million kilograms of maple syrup produced, an average amount when compared to past years but down 40 million pounds compared to 2020. (Hallie Cotnam/CBC)

Philippe Charest-Beaudry, the owner of Ste-Anne-de-la-Rochelle, Que.-based Brien Maple Sweets, which packages and sells bottles of maple syrup, said his company has been able to fill every contract so far this year.

"I've not heard in the industry other players that were not able to meet contracts," he said.

Has the reserve ever run into trouble with its stock?

Between 2011 and and 2012 around 3,000 tonnes were stolen from a storage facility in Quebec. But it was a few years earlier than that when the strategic reserve actually did run dry.

"People probably don't remember, but in 2008, after two or three years in a row of bad production, just bad weather, [they] ran out of syrup in the reserve," said Mike Farrell 

"There was nothing there and there wasn't enough syrup to go around. Prices spiked. We lost a lot of markets for pure maple syrup,"he said. 

A tree is tapped for maple syrup harvest. Many places didn't have good weather for sap flow until later in the production season, said Abby van den Berg, a research associate professor at the University of Vermont's Proctor Maple Research Center in Underhill, Vt. (CBC)

Ray Bonenberg, former president of the International Maple Syrup Institute and a maple syrup producer near Pembroke, Ont., said 2008 was an "awful year in production."

"It was abnormally cold until April 1st and then it got really warm, and I know my season was like eight days so it was disastrous," he said. "The reserve was right down to the bottom, and has been building it up."

What does this mean for next year?

Farrell said the 22.7 million kilograms of maple syrup represents a  "significant amount to take out the reserve this year." But what does that mean for the near future of the reserve?

There are currently around 50 million maple syrup taps in Quebec. In July, the QMSP approved the issuance of seven million new ones to meet the demand.

"From our  perspective, we believe it should solve the issue on the short term basis," said Charest-Beaudry, "I don't see  a season next year where there's no more maple syrup in the grocery store."

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2021-12-01 16:25:17Z
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