Australian meat firm signs AU$1bn deal with Chinese importer

By Eleanor Mackay

- Last updated on GMT

An extra 500,000 lambs will be required per year
An extra 500,000 lambs will be required per year

Related tags Meat Beef Lamb Livestock

Australian meat firm V&V Walsh has signed a deal with China’s Grand Farm, for a reported AU$1bn, according to Australian media.

Under the terms of the deal V&V Walsh will supply boxed meat to Grand Farm, China’s largest importer of red meat. As a result an extra 500,000 lambs and 30,000 cattle will be required, per year throughout the project.

Agriculture and food minister for Western Australia (WA) Ken Baston, who witnessed the signing of the deal, said: "This joint venture is an exciting development, which now presents an opportunity for the significant transformation of both the WA and Inner Mongolian cattle and sheep meat industries.

"The State Government, through the Department of Agriculture and Food, is well placed to support development of the project and to supply technical expertise at both ends of the supply chain,"​ he added.

The minister said the venture was testament to the vision and leadership provided by Chen Xibin, president of Grand Farm, and Peter and Greg Walsh, owners of V&V Walsh.

"Built upon our outstanding biosecurity status and world-class management systems, WA enjoys an enviable international reputation for producing safe, quality lamb and beef products.

"We are continually looking for ways to strengthen our existing supply chains and develop new ones to better meet growing consumer demands,"​ Baston added.

According to ABC News, Chinese consul-general in Perth Dr Huang Qinquo, who also attended the signing of the deal, said WA offered China a significant opportunity to keep up with growing Chinese demand for meat: "With improvements in the living standards in China, the structure of consumption of food in China is experiencing changes.

"I can see there is more requirement in consumptions in terms of beef and other meat and I can see there are great prospects there."

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