Syrup prices?

[Bucket Head]

Whats the going rate for a quart of syrup? Am I missing something?

Over the weekend I attended the New York State Fair. The syrup prices were a little shocking to me. What is the criteria for pricing the products at a state fair?

A half pint was $7, a pint was $11, and a quart was $19. I know they always say at the seminars "Your not charging enough for your syrup", but thats a pretty steep increase from what the average sale price around me is.

I'm sure they sold a lot of syrup at the fair, regardless of the prices. With that many people in attendence, how could you not make any sales. It just seems that the prices were not "inline" with prices outside of the fair.

Just for comparison, I charge $14 for a quart.

Steve

[halfast tapper]

That's what a quart is going for around here, 18-21 dollars a quart.

[MaplePancakeMan]

With fuel increases the price of syrup rose. Then with the poor season the north country had it left the market in a wide gap between syrup made and syrup consumed. Thus when you have a consumption rate which is higher than the production rate the prices raises. I stated before that hannafords around here have syrup for 12.50 a pint! I say take advantage of the market. I was selling at 9 bucks until i jumped on the train to 11 bucks a pint. The loyal customers understand. If You will always have people say its too high but more often then not they pay it anyway.

I worked the Dutchess County Fair which is second to the State fair in attendance in NY. First day a guy walks up and picks up a pint says i'll buy it for cheaper at Sams Club. Next day he was there buying syrup!


With that said if you live in an economically stressed area and your customers are vastly local with low disposable income then perhaps you may not be able to get the going rate but i'd say 16 with out a doubt for a quart.

[MaplePancakeMan]

At our fair we (4 syrup producers who worked the booth) uniformed our prices to the state fair prices. All were charging more with myself the only one below it.

[maplehound]

I stoped at a resteraunt recently that was selling local syrup for $60 for 1/2 gallon. I was shocked

[super sappy]

FYI- Was over in Vermont on saturday doing the Garlic Festival with Peace maker and family. We stopped in hannaford and saw local syrup for 24.79 per qt.

[Bucket Head]

I too am shocked. I guess I need to get out more,LOL. I did'nt realize that these prices were "in the ballpark", so to speak.

I'll have to consider what the going rate is next time I price my syrup. I won't be able to increase it like some have, but maybe a small increase won't bring in complaints. We will see.

Just out of curiosity, I would like to hear more about what you guys are charging. Would more of you care to tell where your located and what your charging, or tell us what prices you have seen in your area?

Thanks guys,
Steve

[tuckermtn]

we are at $15 for a quart.

[jrthe3]

i am at $8 a pt $14 a qt $25 1/2 gal

[Jim Brown]

We are at $5.00 1/2 pint-$9.00 pint-$14.00 qt- $26.00 1/2 gallon-$48.00 gallon

[ziggy]

Guys remember one thing with bulk price about $4.00 a pound that's $44.00 a gallon in the drum. Even if you are selling in gallons you have $2 in the container so at $46.00 a gallon you are only getting bulk price for your syrup. I personally am not willing to retail my product for bulk price, we are running a business and need to make a profit. I helped with the setting of the prices at the NYS state fair, and guess what we set them to LOW! Wegmans has very little syrup for sale if any, but what they have for sale is at $8.99 for a 12oz glass and we had our prices at $8.50 for a 12oz glass. in the 30+ years I have sold syrup we have never been cheaper than the supermarkets. Yes we keep telling producers at the schools to raise your price, because customers will pay the price. Worked the booth 5 days for a total of about 55 hours, the only people who complained about the price of product was maple producers.

My prices are very close to the prices at the NYS fair $18 a qt and my prices are going up Sept 15th.

[paul]

I`m still haveing a hard time understanding the whole profit thing.If it cost you 20.00 to produce a gallon of syrup and you are chargeing 48.00 just because a big packer is willing to buy at 4.00 lb so he can keep all of his big super market and resturant accounts, what makes us any different than the big oil company`s charging so much for gas.

[ziggy]

We are not any different than the big oil companies, and I will bet good money that their executives sleep well at night. Why should you not make a good profit on your product. any retail items TV, DVD players, cameras, dishes, most food products all have a mark-up of at least 400%, just because we are farmers does not mean we have to be poor farmers. Maple is a luxury item not a staple like gas or milk, if the public feels the price is to high they won't buy it, and as of 3 weeks ago my sales by volume are up over 6% and gross dollars up over 18% from this same time period as last year, so what it tells me is the public is willing to pay the price.

[paul]

I guess i`m still old school, I still think theres more profit to be made in quantity rather than in prices that are not justifyable. thats just my two cents. my sales are up over 25% and my profits are up too. I feel like if i stoop to the level of big corporate america it will leave me with no room to complain about them, besides I am just a farmer looking to pay my bills and do some improvments to my operation. I`ve beeb doing this for a while and still haven`t met any rich sugar makers.

[ziggy]

if you are going to buy syrup bulk to keep retail customers you are going to pay $4.00 a lb and sell it for less or no profit???? I don't work for free. If you are selling to farm stands, small retail stores, etc if you can't supply them all year long will and should look for a different supplier. I tell the retail markets I sell to that if I can't supply them with product I will help them find someone to replace me. I know that if I start buying a product from a store and they run out I look else where and when I find it else where I don't go back to where I was first getting it. my markets expect me to be able to supply product 365 days a year. Many times that means buying bulk to make up the difference and I am not going to loose money doing it.

[paul]

I don`t buy bulk syrup, I make and hold on to my syrup so I know I`ll have enough for my retail and wholesale costumers.If you need to buy syrup at 4.00lb then yes you need to sell it for more than 40.00 a gallon.You know and we all know that it does not cost us that much to make syrup and thats the only point i`m trying to make.

[bison1973]

Just for your info- in Wiscosin many, many producers will sell their product for next to nothing. Most are still in the $8-$9 range for quarts. And these are inthe plastic containers. In fact, I was at a farmers' market recently and one person was selling for $7.50/qt. Rediculous! I questioned them about it and they thought their price was good. Believe me you don't want to retail your syrup here in Wisconsin!

[lpakiz]

Yep, same observation here--about $8 per quart in Central Wis.
Larry

[Jeff E]

In the stores, I am seeing pints from $7-9, quarts 13 to 15. I am selling direct pints for $7 and quarts for $13.

Next year I am planning on selling 90% of my syrup bulk, transporting it east. If the local market is so week, I will take advantage of stronger markets elsewhere.

I am considering buying bulk here for shipping east, matching local retail price. That should help the local producer and move the market in the right direction.

[MaplePancakeMan]

I feel the prices should be atleast 10-15% above bulk. you need to take advantage of this while you can.


7.50 a qt?! thats absurd! But i would jump out there and buy every drop already packaged that i could if this were my business. I could sell it here easily for 18 and make almost 130% profit on it.

Its an economics thing buy low sell high. Maximize profit, who wouldn't.

Plus if you're going to sell syrup tap the high number, consumers only get upset if you raise prices ( though only initially, quality is what commits them to buy at any price) If you ended up pricing it too high for your area you can drop it a little until demand plateaus.

Also remember that in the buying process a product that is severely under prices will be viewed as inferior. Thus, a person will buy a higher priced product for perceived value and quality. Just my two cents

[MaplePancakeMan]

I don`t buy bulk syrup, I make and hold on to my syrup so I know I`ll have enough for my retail and wholesale costumers.If you need to buy syrup at 4.00lb then yes you need to sell it for more than 40.00 a gallon.You know and we all know that it does not cost us that much to make syrup and thats the only point i`m trying to make.

How much does it cost you to make a gallon of syrup? I'll bet it cost you less than it cost me.


Thats why this argument isn't ever going to end. In order for me to even justify selling it i should atleast cover the time spent/supplies and etc. i dont think i'm wrong in thinking this

[maple flats]

Like most farmers we never really calculate our cost. We should factor in all costs: equipment cost, depreciation on everything, electric, gas, diesel, tubing tubing tools, fittings tree rental, (or land taxes), YOUR TIME, tanks, pumps, and on and on. When we factor all of these in that IS our cost of doing business. From there we can see what our break even cost is or our real cost / Gal produced. If we say we already own the trees or would have to pay the land taxes anyway, we are just fooling ourselves. Every item we use, buy, rent etc. must be in the equasion for an accurate figure. To be right the price we need all of the answers and most farmers go out of business because they sold their product for less than it really cost to produce, whether it be maple, vegies or milk or anything else. If we continue to sell for less than it cost to make we should all label it a money losing hobby. Most of us do this on the side but that does not change how the price should be established. And as far as someone saying that makes us like the oil companies, I've got news for you- To be like them we would all be rich from our maple business. I have yet to see a mapler who was rich. Most of use price our product so low we can barely figure where we are going to get the money to expand our operation. I am guilty too, but I am learning, hopefully fast enough. I sold out before the prices even started their assent. Now I have nothing (thanks to some free newspaper coverage that filled my sugarhouse to overflowing all 4 days of our 2 maple weekends) I made more than ever before in gallons and $ sales but at early season prices. I even bought some wholesale at early season prices and sold out on that.
Next season I will price my product more in line with my real cost plus a REASONABLE PROFIT. My price will go up significantly.

[oldemaple]

So why did the retail cost of syrup suddenly skyrocket? The cost of oil and wood is only a small part of the rise. The main reason lies to the north in Canada. Where do you think that most of the syrup that is packaged, not produced, in Littleton, NH and St. Johnsbury, VT. comes from? Read the small print on the grocery store bottle. It says that it's a product of the USA and Canada. I'll bet there's a lot more Canadian syrup in that bottle than USA syrup. The packager's big problem came when Quebec's surplus ran out and the dollar fell in value. You only get about $.80 for your dollar now in Canada, it used to be just the opposite. Now the packagers have to pay a lot more for the Canadian syrup. That I believe is the real reason for the spike in retail syrup prices. Just my 2 cents worth.

[802maple]

The reason for those prices are simple. They most likely had to pay 3 dollars and more for a lb. of syrup, just like we did for the Big-e in Massachusetts. When you add in the price of the container, 5 percent loss of syrup when recanning and add on a decent profit you are at those prices and higher. The kicker comes when people are selling their product too cheap and the association doesn't move theirs at the fair. The Chittenden county association just had a terrible year at their sugarhouse at the Champlain Valley Fair selling syrup. Product went well but syrup sales were way down. Most every dollar made at that fair and The Big-E go directly into promotion. People were not buying syrup at the fair because they could buy at "farmer prices" down the road and who could blame them, but at the same time when the promotion dollars dry up the World market will also decrease and prices will go back down. The world doesn't find out about maple just by word of mouth, there is a lot of effort put into this by promotion of our product.




Whats the going rate for a quart of syrup? Am I missing something?

Over the weekend I attended the New York State Fair. The syrup prices were a little shocking to me. What is the criteria for pricing the products at a state fair?

A half pint was $7, a pint was $11, and a quart was $19. I know they always say at the seminars "Your not charging enough for your syrup", but thats a pretty steep increase from what the average sale price around me is.

I'm sure they sold a lot of syrup at the fair, regardless of the prices. With that many people in attendence, how could you not make any sales. It just seems that the prices were not "inline" with prices outside of the fair.

Just for comparison, I charge $14 for a quart.

Steve

[802maple]

The real reason for the spike in syrup prices is the less than average years up accross the border and you are right to certain amount that the dollar got weak also, but if you look today our dollar is going the other way and has for the last few weeks, $1.04 in Canada today.

You are right that there is probably more Canadian syrup in those bottles than there is U.S. syrup just for the simple reason that there isn't enough syrup made in Vermont,New Hampshire, Maine and New York altogether to fill just Maple Groves orders say nothing about Bascoms, Butternut Mountain and several other large packers in New England say nothing about packers all thru the maple belt.




So why did the retail cost of syrup suddenly skyrocket? The cost of oil and wood is only a small part of the rise. The main reason lies to the north in Canada. Where do you think that most of the syrup that is packaged, not produced, in Littleton, NH and St. Johnsbury, VT. comes from? Read the small print on the grocery store bottle. It says that it's a product of the USA and Canada. I'll bet there's a lot more Canadian syrup in that bottle than USA syrup. The packager's big problem came when Quebec's surplus ran out and the dollar fell in value. You only get about $.80 for your dollar now in Canada, it used to be just the opposite. Now the packagers have to pay a lot more for the Canadian syrup. That I believe is the real reason for the spike in retail syrup prices. Just my 2 cents worth.

[Clan Delaney]

I'm still very much at the hobby stage, but since there are plenty enough hobbies in this household that do nothing but consume money, I decided that at least one of mine should make money, at least what I put into it.

For 2008 I kept better records than any year so far, so I could be content in knowing, when all was said and done, that I covered my costs and possibly made a profit. I included everything I purchased out right, but things like the cost of my time (If I wasn't sugaring, I wouldn't be doing anything else to generate income. More likely the other way around!) I didn't include in the calculations.

My wife kept insisting that the time and effort I put in should be a major consideration in pricing the final product. I accept that now. More than one of my customers (all friends and family) made comments that I should be charging more as well. Well, so be it.

I thought I was doing a service to other "professional" syrup producers by keeping my prices lower. I always thought of it as a nod to their experience, and often, accreditation (belonging to a state or local maple association). I figured that I wasn't being held to any standards, while they were, and that all I was doing was doing was boiling sap in a pan in my backyard. As it turns out, I make my syrup to the same standards as anyone else, and really, aren't we all just boiling sap in pans in our backyards?:D

I'm in agreement that we're producers of a specialty/luxury product. Rest assured that the day we set the price too high, we'll know, because our customers will decide to stop paying for it.

[gmcooper]

Currently our prices have been stuck at $15.00 a qt, $9.00 pt, $6.50 1/2 pt. $28.00 1/2 gallon and $49.00 gallon. They are too low and I have been to busy with other things to stop and change prices. We have not had one person complain about the prices. I might guess that a few people might have bought a smaller container just to fit their budget or the funds they had with them. When i get the chance I will got to $7.00, $10.00, $18.00, $32.00, and $55.00..Even at these prices I will still under the supermarkets and several other producers as well.
Mark

[markcasper]

My wife and I did a festival over the border in Minnesota on Labor Day. We raised our prices more this year than we have in the last 5 put together. Our total $$$ were down over 30% from last year and have not been this low since 2003. We have did this show for 8 years.

People definately do not have the money to spend as in past years. Alot on here think that they can go to the moon with their price. Guess what, your sales WILL go down in the not to distant future. Its all fine and dandy to think we can raise our price to make a profit. But when people are getting laid off left and right, they are not going to buy maple syrup. It would be better just to sell it all bulk at this point. The sad fact is that the average American cannot afford to pay these prices. We as producers are in a better position as long as the overseas markets keep up. If they quit buying, then we are done.

[mountainvan]

Prices going up at the grocery store are a good thing for me. Quite a few people have started buying my syrup because of it. I could raise my prices to make more in the shortterm, but I want to build a relationship with my new customers so that when the price goes down they keep buying from me. My steady customers have come to depend on me for a good product at a reasonable price. I want to keep their trust by doing so. My two cents on the subject.

[MaplePancakeMan]

I think its great to build relationships with your customers, and i dont' think we should get too lavish with our prices. We aren't producing gold! However, that being said, you have to make a profit and for some of you pricing lower will net you that profit others need to sell higher. If you sell it for lower than it cost to make its putting more pressure on you to meet the bills every month by paying to sell people syrup. Its like entering into a job that you would have to pay to do and get nothing in return.

As i've said before, in more economically stressed areas it would seem to reason that syrup would be priced lower.. in areas that can afford it syrup would be produced higher.

furthermore, a large producer around here sells for 58/gallon, 36/half, 20qt, 11/pt, 8 per half pt. Why shouldn't i be able to sell my syrup for 10/pt? That puts us both below the supermarkets/health foods syrup at 12.50/pt.

I can retail to the health foods store around here at almost 9/pt and with a 60% mark up still be lower than any other syrup in the store!

In my area it just doesn't make sense to be below $9-10 bucks a pint.

My sales are up almost 50% and my syrup price is 2 bucks higher than years previous. I just did a festival locally and in 5 hours made 320 bucks just selling pints. Not one person gripped about it being 10 bucks

[jemsklein]

well were i am located the other local guy is getting $32 a liter now i sold out a long time ago but i wish i could have gotten $32 a liter instead of $20

[WESTVIRGINIAMAPLER]

I am selling quarts for $ 12 and pints for $7. I have been at these prices for 2 years. I have been selling pretty good, but not setting the world on fire. I know if I went much higher than this, I could forget it. Guess it all depends on the area you are in but I do agree that the big price increases by some will in time bite you in the backside. I don't disagree with the principle, but if it keeps going like this, maple syrup sales are going to take a hit at least in the US as people are going to get turned off. My costs have gone up just like everyone else, but so has the price of everything and people don't have to have syrup. I agree with Van that I want to get my customer base to a point that I can't make enough syrup to supply everyone for the entire year, then maybe consider a small price increase at the start of the season, not during the middle of between seasons.

If the wholesale market keepings going up, I could wholesale it and make close to the same but the bottom may fall out of it in a couple of years and it be back to $ 2 or less per lb and then I don't have a retail base.

[paul]

I totally agree with Brandon. Most of us didn`t complain when syrup price`s were 2.20 for fancy& .90 for commercial grade.we just didn`t make much commercial. Now that the big packers don`t have enough syrup to supply everyone they are willing to pay more but they aren`t selling to the general public, there selling to the big commercial companies. Maplegrove of vermont isn`t selling over the internet this year because they don`t have enough syrup to sell to their commercial accounts and the general public, so who do they choice to sell to? Big business, their looking out for #1 and we need to do the same.My customer base is on the top of my priority list because they pay my bills and allow me to up grade my operation.
If the big packers want to pay 4.00lb I`ll make and sell them all the syrup i can. I`ll boil till the sap stops running, but I`ll keep enough to keep my customers in syrup all year, because it`s them and guys like 802 that got me were i am today. And thats my two cents on the matter.

[farmerEd]

Yep, thats right. In my area, western mass, when buying by the quart at the supermarket you can expect to pay over $100 a gallon. One of the brands (which as "certified organic"), was selling for the equivalent of $160 a gallon.

Yikes, I need a bigger evaporator....

Are these prices sustainable?

[PATheron]

Im new to selling syrup compared to most of the rest of you but this is my opinion for what its worth. You guys have been busting your butts for years and not really making a ton of money so why not enjoy it while it lasts. What Im going to do is make the absolute most syrup I can make while these prices are what they are and put it all on my equipment. If it runs early theres going to be a vac pump running and its going to stay on till nothing comes out anymore. Then in a couple of years if these prices go down becouse of some bumper crops up north Ill be able to make money becouse Ill own my stuff. If its half as much oh well. Its kind of like the farmers. Those of them that are conservative and dont owe anything keep plugging along year after year. Im just hoping these prices stay high long enough to pay for my setup and if thats the case I feel like I lucked out. Last year I shut the pump off and it was still running but I was just plain sick of it after working all year to get ready but after seeing what that stuff is worth I dont think Ill let that happen again. Another thing to remember is money really isnt worth much anyway lately. It takes a lot of money to buy anything, not just syrup, becouse weve got the printing presses running full tilt all the time. So syrup is going to be way more expensive. Groceries and everything is way higher. Untill Uncle Sam puts his credit card back in his pocket a dollar isnt going to buy much. Theron

[sapman]

I sure agree with what you're saying, Theron. I got groceries last week with my wife, and I couldn't believe how much stuff has gone up. I think cereal is about $1/box more than six months ago! And yes, dollars are going down all the time (although it's up over 100 basis points recently). And now that the govt. bailed out/took over FreddieMac/Fanniemae, I'm sure we all get to help cover that.

Hopefully next season is great for us sugarmakers again.

Tim

[Clan Delaney]

I was browsing the Bascom Maple site this evening, reading predictions (http://www.bascommaple.com/bruce.php) for the upcoming season. The insight/explanation into some of the economic forces at work in the maple industry made for some interesting reading.

This, though, I didn't understand at all:


3. Prices for the 2008 crop are uncertain but I will risk putting my foot in my mouth. I predict the initial field farm prices will be at least $2.25/lb for Fancy and could perhaps be as high as $2.00/lb for Grade B. It certainly will pay to hang on a few more days at the evaporator to boil Grade B or Commercial syrup as the demand is strong for these lower grades.

What is meant by "initial field farm prices"?

[markcasper]

Clan, That message is outdated. That was put out last winter before the 08 crop started. Initial field prices would be considered as the value of the syrup if selling bulk, in the drum and to the packer. Out in the "field" meaning in the countryside. Mark

[Maple Hill Sugarhouse]

post edited

[3% Solution]

Hi folks,
Went to Bascom's yesterday to pick up some "Stuff".
Asked Liz what the price of syrup if they were to buy it ...........$3.25/ Lb. for commercial and $3.50 for everything else.
So, there you go for the update!!

Dave

[220 maple]

FYI
I googled maple syrup today, I found an Businees Week article talking about the high price of syrup, a San Francisco based Lotus Bakery which makes some type of cookies that use Maple Syrup. The owner Mark Menning was expressing concern over the fact that Maple Syrup had risen in price by 2 dollars a pound since May. He recently paid 6 dollars a pound for syrup that he uses to make these speciality cookies. YES it said 6 dollars a pound.
Goggle it and read for youself.
I'm not complaining, I sold 110 pounds at 2.35.


Mark 220 Maple

[fred]

he probably paid 1.50 a lb the rest was shipping for 3000 miles

[TapME]

someone should link up with this baker and sell him syrup from the mid west.

[Valley View Sugarhouse]

I met a man that owns a canning facility here in VT, he uses about 100 gal of comm syrup a week in his facility. He told me he is paying $4.80 a lb for com syrup through Bascoms. Who said Bruce doesn't make any money..

[tuckermtn]

oh, bruce makes plenty of money...