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History of Northeastern US Maple Syrup Price Trends

McConnell, T. Eric, Graham, Gary W.
Forest products journal 2016 v.66 no.1-2 pp. 106-112
maple syrup, markets, prices, Maine, New Hampshire
Average annual percentage rates of change (APR) in maple syrup prices (average gallon equivalent price in the United States) in seven northeastern United States and their aggregated region were determined for the years 1916 to 2012. The price trend lines were then compared on state-by-state and region-by-state bases. Maple syrup prices across all states and the region as a whole were increasing nominally at significant average annual rates. Nominal APRs ranged from 3.42 percent for Maine to 4.13 percent for New Hampshire, with the price in the combined region increasing at a rate of 3.96 percent annually. Real prices (discussed in 2012 constant dollars) were appreciating at significant annual rates in all areas except Maine. Real APRs ranged from 0.46 percent for Maine to 1.12 percent for New Hampshire, and the regional price was increasing at 0.95 percent annually. Whereas the region's all-time high price of $40.38 was obtained nominally in 2008, the real price actually reached its highest point in 1987 ($53.89). Two other real price peaks were observed regionally: 1947 ($41.17) and 1972 ($45.31). No differences in trend line intercepts and slopes were found across the region. Obtaining price information for any one location has historically provided producers and processors a reasonable expectation of market activities occurring in the greater region.