The Australian meat processor that’s signed a $60 million deal with China

An Australian meat processor has signed a $60 million deal with China, in a major win for the livestock industry. See the details.

One of Australia’s major processors has signed a lucrative deal with China worth up to $60 million annually to supply red meat in a major win for the livestock industry.

A memorandum of understanding signed between Thomas Foods International and a Chinese food distributor will kick of with $30 million in red meat sales next year.

But built into the MOU is the target for $60 million in frozen and chilled red meat exports between the two companies.

Thomas Foods International chief executive Tony Stewart said the company had a “long and successful history” trading with China.

“The backbone of this has been the strong relationships we have developed with trusted and highly capable partners,” Mr Stewart said.

“I am delighted to be able to sign this MOU on behalf of Thomas Foods International which reflects both our strong partnership and TFI’s expertise in and commitment to the Chinese market.”

Thomas Food International chief executive officer Anthony Stewart.

Mr Stewart said the completion of the new beef processing facility at Murray Bridge, South Australia, set a new standard for the Chinese market if it was given the green light to trade with China. It is currently waiting for listing as an approved abattoir to trade with China.

“If approved for export, it would represent more than a business opportunity; it would be a transformative step forward for the Australian red meat industry,” Mr Stewart said.

“For South Australia. it would provide a significant boost in trade, job creation, and overall economic prosperity.”

The deal was signed shortly after TFI managing director and Mr Stewart travelled to China with South Australian Premier Peter Malinauskas on a business delegation.