Australia, China ink meat deal worth USD 1 bln
An Australian meat processor and a giant Chinese import company have signed a deal worth almost one billion US dollars, local media reported on Tuesday.
Grand Farm, China's biggest importer of red meat from Australia and New Zealand, will join forces with V&V Walsh to process an extra 500,000 lambs and 30,000 cattle a year for China, the West Australian reported. The joint venture includes $187.7 million of investment in Australia, and 750 million US dollars in China to develop mega farms in China's Inner Mongolia. Peter Walsh, from V&V Walsh, said the China deal will create a boom for Australian farmers. "Agriculture is going to get back to the position of strength it had in the 1950s and 60s," he said. "It is going to be mining and agriculture. The boom is here. Supply is our biggest concern. Farmers will only increase production when it becomes financially attractive and it is going to happen now." Walsh said his company will share its expertise with his Chinese partners in developing world class farms. "They regard us as one of the best agricultural countries in the world, so they want to learn from us and get their farms up and running," he said. "And they will import lots and lots of meat. "
Michael Boddington from Asian Agribusiness Consulting (AAC) has been involved in agribusiness in Asia since 2000. AAC has office both in Vietnam Ho Chi Minh City and China Beijing. So AAC has a thorough understanding of the Viet Nam and China aqua industry and produces up-to-date research reports on the market. We can offer insights on supply and demand trends and comments on the future structure of Asian agribusiness. If you would like to know more please email This email address is being protected from spambots. You need JavaScript enabled to view it.This email address is being protected from spambots. You need JavaScript enabled to view it.