Mustard market is hot

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Published: October 24, 2002

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.”

About the author

Ed White

Ed White

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