PRESS RELEASE For immediate release

A NEW WAREHOUSE FOR THE GLOBAL STRATEGIC MAPLE SYRUP RESERVE Longueuil, April 2, 2012 - The Federation of Quebec Maple Syrup Producers has just completed the acquisition of a factory warehouse in Laurierville, Centre-du-Qubec. With around 234,000 square feet of floor space, the new warehouse will allow the packaging and storing of more than 220,000 barrels of maple syrup, thus ensuring a continuous market supply, regardless of nature's generosity. Inventory support is central to controlling risk with maple syrup production. Ensuring a continual supply is essential for developing markets for maple products. For this reason, the Federation acquired its first warehouse in Saint-Antoine-de-Tilly in 2008. This warehouse is already full with 15 million pounds (23,000 barrels). In 2010, an actuarial study determined that, on average, a strategic reserve of 40 million pounds would be necessary to avoid stock shortfalls due to poor harvests. Slightly more than 36 million pounds of maple syrup are currently stored in three different locations in Quebec. Last year, the Federation had to rent additional storage space to cater for the harvest surplus. The new Laurierville warehouse will now provide the required space to fulfil the Global Strategic Maple Syrup Reserve. The Federation is preparing the new warehouse for receiving and grading producers' syrup from April. Pasteurization and barrel cleaning equipment will be installed without delay. The new Laurierville factory warehouse will be equipped with state-of-the-art technology which will help with efficient syrup pasteurization, minimizing stock loss and optimizing barrel handling. The same rigorous quality controls and perfect traceability from maple grove to buyer will be in place as normal. The Global Strategic Maple Syrup Reserve: Avoiding price fluctuations and meeting demand. In 2008, after four years of poor harvests, demand was growing and syrup stocks were drying up. Prices soared as the laws of supply and demand dictate. "In the long term, supply instability has a negative effect on everyone and harms development and innovation. Maple producers are eager to invest and show support for the Global Strategic Maple Syrup Reserve. It's the best strategy for managing risk in our industry, supporting its long-term development and reducing our dependence on governmental programs," says Mr. Serge Beaulieu, President of the Federation. The Strategic Maple Syrup Reserve is currently supported entirely by Quebec maple producers. The strategy will ensure that markets receive a continuous supply of syrup, regardless of harvest. Furthermore, it will help to prevent discounted sales and price fluctuations. It provides stability and a secure supply while assuring optimal storage conditions. With planning around market requirements, maple producers relieve some of the pressure on agricultural risk management programs run by the State. Warm temperatures over the last few weeks have meant that some of the southern-based maple producers (including many American producers) have had to stop production for the season, although many of the larger maple groves are still in production in the colder parts of Quebec. At this point it is still too early to measure this year's harvest. Nevertheless, the Global Strategic Reserve will ensure that maple syrup will not be in short supply this year.

About the FPAQ The Federation of Quebec Maple Syrup Producers was founded in 1966 with the mission of protecting and developing the economic, social and moral interests of its 7,400 member producers in Quebec. It represents men and women who work together and favour the collective marketing of their product. The quality of their work has made Quebec the producer of close to 80% of todays global maple syrup production.

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Source: Anne-Marie Granger Godbout Executive Director Federation of Quebec Maple Syrup Producers Telephone: 450 679-7021, ext. 8330 amgrangergodbout@upa.qc.ca

Information: Simon Trpanier Assistant Director Federation of Quebec Maple Syrup Producers Telephone: 450 679-7021, ext. 8633 strepanier@upa.qc.ca