Food cost is not the only consideration. Think about the following:
1) There are no competitors and it's a premium product.
2) You should cover your costs, which means all of them including your payroll taxes, SS, FICA, etc. :)
3) The market does not look at your food cost and determine what's fair for you. Only you can determine what is good enough.
The big thing to remember is that competition and supply/demand drives the price of your goods. When some chefs purchase beef, for example, we actively bid out the contract every single week to get the best price. If someone is willing to sell the same product at a lower price we normally buy from that vendor. If we had only one supplier then we're tied to their prices. Not a good thing.
Premium products seldom have competitors and sell quite well in sufficiently small quantities. Take the French Laundry for example. They'll never turn 500 people through their restaurant every single night for years on end. Maybe for the first two years, but after that, who knows?
So you have a real good opportunity here. Keep the product high quality and limit its production. Someday sometime someone is going to come up with a competing product. Then you will have to think a bit more. :)