Itoham Foods Inc. said Thursday its Sydney-based subsidiary began selling Australian beef in Beijing in July, in a bid to expand overseas sales.
The ham and sausage processor said Rockdale Beef Pty. aims for annual sales worth about 1 billion yen in China over five years by selling high-quality beef to mainly affluent Chinese and Japanese in the country.
The price point of the Australian beef will be three times the average price of Chinese beef, it said.
China resumed imports of Australian beef after it joined the World Trade Organization in 2001 and approved 35 meat-processing factories, including one for Rockdale, in 2004, Itoham said.