Two-master hoisted condiment (7)

I believe the answer is:

ketchup

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'condiment' is the definition.
(I know that ketchup is a type of condiment)

'two-master hoisted' is the wordplay.
'two-master' becomes 'ketch' (I've seen this before).
'hoisted' becomes 'up' (I am not sure about this - if you are sure you should give a lot more credence to this answer).
'ketch'+'up'='KETCHUP'

Can you help me to learn more?

(Other definitions for ketchup that I've seen before include "Thick sauce, with tomatoes" , "Relish" , "Condiment" , "Piquant sauce, often tomato based" , "Spicy tomato sauce" .)

I've seen this clue in the Sydney Morning Herald.

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