Why Does Canada Have a Maple-Syrup Cartel?
Over a one-year period during 2011 and ’12, some 6 million gallons of maple syrup — about $18 million worth — were stolen from the “strategic maple syrup reserve” controlled by the Federation of Quebec Maple Syrup Producers (FPAQ). The cartel’s syrup was taken from a St.-Louis-de-Blandford warehouse, which some clever thieves had access to because they just so happened to be renting another section of the same storage facility. Last week, three men were arrested in connection with the heist. (MORE: Sticky Situation: $30 Million in Maple Syrup Stolen from Canada’s Strategic Syrup Reserve) It may seem bizarre that Canada has a maple-syrup cartel at all. But think of it this way: Quebec, which produces about 77% of the world’s maple syrup, is the Saudi Arabia of the sweet, sticky stuff, and the FPAQ is its OPEC. The stated goal of the cartel, in this case, is keeping prices relatively stable. The problem with maple syrup is that the natural supply of it varies dramatically ...
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Why Does Canada Have a Maple Syrup Cartel?
Over a one-year period during 2011 and 2012, some 6 million gallons of maple syrup – about $18 million worth – was stolen from the “strategic maple syrup reserve” controlled by the Federation of Quebec Maple Syrup Producers (FPAQ). The cartel’s syrup was taken from a Saint-Louis-de-Blandford warehouse, which some clever thieves had access to because they just so happened to be renting another section of the same storage facility. Last week, three men were arrested in connection with the heist. It may seem bizarre that Canada has a maple syrup cartel at all. But think of it this way: Quebec, which produces about 77% of the world’s maple syrup, is the Saudi Arabia of the sweet, sticky stuff, and the FPAQ is its OPEC. The stated goal of the cartel, in this case, is keeping prices relatively stable. (MORE: Closing the Chore Gap) The problem with maple syrup is that the natural supply of it varies dramatically from year to year. “It’s highly dependent on the weather,” ...
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IMF money for Greece contingent on debt buy back
WASHINGTON - The International Monetary Fund will not disburse Greece's next bailout tranche until the country completes a voluntary buy back of its debt, an IMF spokesman said on Thursday.
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Reuters
IMF open to negotiating terms of Greece's bailout
WASHINGTON -- The International Monetary Fund is open to adjusting the terms of a Greek bailout and will send a team to Greece next week to meet with the new government....
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