Parker Ranch and local investment firm Ulupono Initiative will jointly fund research into large-scale grass-fed beef production on Hawaii island.

The trials will involve 200 head of cattle on 300 acres from September through May of 2013.

"This local product strategy should ensure that we have the capacity to produce high quality and consistent market cattle in Hawaii at a competitive price," said Dutch Kuyper, CEO of Parker Ranch, in a statement.

"It is an honor for us to partner with Parker Ranch … to support the pre-commercialization trials of large-scale grass-fed beef," said Kyle Datta, Ulupono general partner.