Australia to export live beef cattle to China 

AUSTRALIA’S largest livestock exporter, Wellard, will start exporting beef cattle to China next year.Back in September 2016 The boss of Australia’s largest live exporting company, Wellard, has sold almost half of his shares in the company to the Chinese-owned Fulida Group. 

Mr Balzarini has transferred 16.58 per cent of Wellard to Fulida, which leaves him with a 20 per cent stake, and means Fulida becomes the second biggest shareholder with 66.32 million Wellard shares.

In an ASX announcement Wellard said it had received its first Exporter Supply Chain Assurance System approval in China from the Australian Department of Agriculture and Water Resources.

The approval, needed to export slaughter cattle to China, was received for a supply chain in northern China.

Wellard chief executive Mauro Balzarini said this was an important first step.

“Following an independent audit, the ESCAS approval demonstrates that our Chinese customer will meet the animal welfare, traceability and audit standards required to receive Australian livestock,” Mr Balzarini said.

He said China was a promising market development for Wellard and he expected it would start exporting beef cattle to China in the first six months of next year.

The latest statistics from Meat and Livestock Australia and LiveCorp show 338 feeder and slaughter cattle were exported to China in the 12 months to November this year, up from 150 the year before.

Mr Balzarini has transferred 16.58 per cent of Wellard to Fulida, which leaves him with a 20 per cent stake, and means Fulida becomes the second biggest shareholder with 66.32 million Wellard shares.

In a statement to the ASX, Mr Balzarini said he was pleased WGH was now in a position to settle the separation payment due to Wellard.

He welcomed Fulida, which he said was a company that had shown “consistent interest” in the live export industry over a long period.

“That Fulida has taken an equity interest in Wellard, and agreed to voluntarily escrow its shares, highlights its belief in the long term future of our business, our industry and the potential that China represents,” he said.

Wellard and Fulida have a history together, last year becoming 50-50 joint venture partners with a plan to design and construct a series of feedlots and an abattoir in China.

Source: http://www.weeklytimesnow.com.au/agribusiness/cattle/cattle-exports-wellard-to-send-live-beef-to-china/news-story/c3ff2f421ec4bb9f5e03decf7d4f1470

Source: http://mobile.abc.net.au/news/2016-09-19/wellard-boss-sells-shares-to-chinese-fulida-group/7858320?pfmredir=sm

One Comment Add yours

  1. Lyn says:

    So China will be selling to themselves and we pretend that is export business that benefits Australia! just watch thenm play games to leverage the Aussie owners out and as they manipulate the price puss to farmers and then buy more farms. This is neither Free or Fair Trade for Australia – WHAT FOOLS WE ARE!!!!

    Like

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