CIA (e)Bulletin/(e)Bulletin de l'ICA
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January 2015

Newspaper Visits the Result of Actuarial Professionals’ Expertise

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An unusual feat of actuarial science, featured in the (e)Bulletin in 2012, has made fresh headlines.

The Globe and Mail recently visited the former furniture factory in Laurierville, QC, that contains the Global Strategic Maple Syrup Reserve: a $100m stockpile that may be the largest in the world.

As we reported, the reserve came into being thanks to the expertise of actuarial professionals hired by the Federation of Québec Syrup Producers. They were tasked with calculating the ideal size of the reserve, which is designed to ensure that quality-certified syrup is always available, relieving pressure on producers concerned about shortages or gluts caused by volatile weather.

The consultants recommended that the federation’s premises should house a reserve of 40–50 million pounds. A barrel contains about 620 pounds and according to the Globe and Mail, at a benchmark price of $2.92 a pound it is worth about $1,800. The stockpile currently totals 62,800 barrels.

Québec’s maple syrup companies are now launching a new push to promote the product as a healthy dietary staple, rather than a luxury item.

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