Wellard Limited First shipment of beef cattle to China
First shipment of beef cattle to China: Wellard Limited (ASX: WLD) has witnessed a stock price surge of 24.14% on September 20, 2017, as the group recently announced that it has agreed on commercial terms for the company’s historic first shipment of beef cattle to China. Approximately 2000 cattle will be loaded for the shipment from south east Australia and the cattle are being supplied to Rongcheng HCMH Trade and Service Co., Ltd, a subsidiary of Tai Xiang Group, which is an established Chinese company specialising in frozen and processed food. The shipment, despite being relatively small, is the largest to date and represents a very significant step in the Company’s implementation of its strategy for China. Moreover, the company sees this as the start of a long-term relationship with clients in China, like the customers in other markets for the last three decades, including establishing ESCAS supply chain integrity with a special emphasis on animal welfare. China offers big potential for Wellard and the Australian cattle industry in general, and this first shipment will pave the way for the development of a more regular trade. The cattle will be quarantined and then processed in a purpose-built facility in China, which has been ESCAS (Exporter Supply Chain Assurance Scheme) accredited.
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