Mustard growers are entering a second year of good prices.
“Aside from last year, it’s getting pretty close to the highest ever,”
said Brett Meinert, chair of the Saskatchewan Mustard Growers
Association.
That’s good news for farmers who have uncommitted mustard sitting in
their bins. Prices rose as the drought worsened.
Producers who locked in prices early won’t be so happy.
“If you have it contracted for 23 cents per pound, it’s kind of
disappointing,” said Meinert.
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Some buyers have recently bid more than 40 cents per lb. for No. 1
yellow mustard, with No. 2 bringing 32 cents, according to Brian
Clancey of Stat Market Research.
Brown mustard has drawn bids of more than 30 cents for No. 1 and more
than 20 cents for No. 2, while oriental mustard has seen bids top 19
cents for No. 1 and more than 17 cents for No. 2.
On the whole, the market is in a positive trend.
“This crop is going up, not down,” said Clancey.
While supplies are not terribly short, Clancey said buyers may have
trouble getting their hands on mustard, since growers who had poor
yields will want to hang on for better prices that will provide enough
revenue to at least pay production costs.
“That adds buoyancy to a market,” said Clancey.
Meinert said mustard growers he has spoken to are optimistic about the
fall and winter market.
“They expect prices to go up.”
