Listen: Fetching Liquid Gold Prices, Maple Syrup Attracts Big Business to Vermont
"The business wars daily is brought to you by Staples work is changing, but Staples is changing right along with it. The new Staples delivers solutions to help your team be more connected productive, and inspired. Learn more at Staples dot com slash change. From wondering, I'm David Brown, and this is business worse daily. Happy Friday, everyone if you visit the website of remind maple syrup producer, the maple Gill, you'll read, what looks like a joke. So a chef a chemist and a Wall Street defector walk into a bar it begins. Well, in fact, the leaders of the maple guild, which launched in twenty thirteen are completely serious. Unlike the homegrown syrup producers that have populated the crap since the eighteen hundreds, the maple guild is run by someone from Wall Street, founder, Bob Sol as an executive with fiero. Comex Montreal private equity company that acquired the company two years ago from its base on twenty four thousand acres of Vermont woods, the guild has set it sights on becoming Vermont's biggest organic maple syrup producer. It has a good start. It owns more maple trees than any other. Single producer in the world in doing so it's challenging the powerful federation of Quebec maple syrup producers, that organization union more than thirteen thousand independent producers sells seventy percent of all the maple syrup purchased worldwide as a legal cartel regulated by the Canadian government. The federation sets syrup prices last year a barrel of syrup was worth twelve hundred dollars. That's eighteen times, the twenty eighteen value of crude oil as Vermont public radio said last year maple syrup is liquid gold. No surprise, then that challenger with roots in Wall Street would see an opportunity in the Vermont woods. A chance to break the whole federation has on our taste buds, and our wallets, the rivalry between the maple guild and the federation is such big business that it attracted the attention of none. Other than Bloomberg, which is typically more interested in Microsoft and Maserati than maple syrup. One reason why the maple guild can entertain such huge ambitions is the technology is come to the old fashioned industry maple. Gill sap, steamer can turn twenty two hundred gallons of sap into fifty five gallons of syrup in fewer than ninety seconds. Bloomberg reports in a traditional sugarhouse that same process can take hours even days because of new production techniques maple syrup output tripled between two thousand two and seventeen. Even as climate change was shortening the sugaring season, and making it far less predictable still the maple producers will keep pumping out as much syrup as they can feeding our insatiable desire for the stuff sales are growing fast as consumers look to replace white sugar with natural sweeteners as a result maple syrup is turning up in just about everything from yogurt. Energy drinks to coffee and beer as it taps into this growing market. But maple guild isn't just fighting the federation, it's also scrapping with two large decades-old, Vermont syrup producers butter not farms and Kuhn's family farms, like the Canadian maple cartel. You can bet that neither of them will go down without making things very sticky for the upstart maple guild. For I'm wondering this is business wars, daily this week's episodes will ridden, edited and produced by Elaine Appleton grand edited, and produced by Emma Cortlandt are executive producers, marshal Louis created by or non Lopez or wondering, I'm David Brown. We'll see next week. Businessworld daily is brought to you by Staples. The world of work is changing faster than ever before a week ago open floor plans were in. Now, they're out the pace of our volving work lives can feel overwhelming, but Staples can help not the old Staples. But a new Staples that delivers solutions to help your team be more connected productive, and inspired work may be constantly changing. But Staples is changing right along with it to support you. Learn more at Staples dot com slash change."