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  •  LEADERS meet at the NAMSC conference on Oct. 22 to discuss current market. From left: David Ellis, Matthew Bascom, Nathan Bissell, Ben Fisk and David Hall.

Industry leaders offer market outlook for 2025

Syrup sales strong; bulk prices flat

By PETER GREGG | NOVEMBER 26, 2024



 

PORTLAND, Maine—Syrup is still selling, that’s the good news.
 
Bulk buyers and industry leaders on a discussion panel at the NAMSC annual meeting seemed optimistic about the consumer end of the marketplace.
 
“People are using syrup for more than just breakfast overall, they are keeping syrup as a grocery staple,” said David Ellis, of Butternut Mountain Farm in Morrisville, Vt., one of the nation’s top syrup buyers.
 
Ben Fisk of Ben’s Sugar Shack in Temple, N.H. agreed, but was hopeful to expand further.
 
“If we could get people to use just one ounce of maple syrup in their coffee every day, we’d be in good shape,” he said.
 
None of the panelists would reveal or predict where the bulk price might be going, but gave a broad perspective on the current maple marketplace.
 
Consumer sales continue to be brisk, emphasized by the rapid depletion of Quebec’s record breaking 2024 crop. 
 
Of the 230 million pounds made this past season, 160 million of it has already been sold, according to David Hall, a board member of the Quebec syrup federation.
 
Hall said the federation’s warehouse reserve will top out at 40 million pounds.
 
The panel debated organic syrup. Hall said producers were making more organic than demand warranted.
 
But other panelists argued in support.
 
“If organic is what the customer wants, then make them happy,” said Nathan Bissell of Bissell Maple Farms in Jefferson, Ohio. “Sell to the whole market.”
 
Panelists said that expansion might be shifting in the industry. 
 
Matthew Bascom of Bascom Maple Farms said tubing sales have “flatlined,” a possible indicator.
 
Fisk said producers are having trouble finding enough labor to help in the woods to justify big add-ons in taps. Instead, many sugarmakers are focusing on efficiency.
 
“They are trying to get more per taphole,” Fisk said. “Many are adding monitors.”
 
Bissell said that the ingredient market is a big marketplace with much opportunity for the future.
 
Other discussion centered on food safety, with panelists saying that the grocery chains are cracking down.
 
“They have a zero-tolerance for food safety issues,” Ellis said.
 
Bascom, another of the nation’s biggest bulk buyers, agreed.
 
“The buyers for the big grocery chains are getting particular,” he said, adding that sugarmakers need to make updates to their operations if they want to sell into the bulk market.
 
“Gone are the days of dirt floor sugarhouses,” he said.