The growth of Singapore's vertical farming sector | Managing Asia
Summary
TLDRThe video highlights the growing importance of sustainable agriculture, focusing on the rise of vertical farming. By 2050, food production needs to double to meet global demand. Investments in agri-tech are booming, and government bodies, like Singapore’s Agri-Food and Veterinary Authority, are fostering innovation. Vertical farming is expanding rapidly in Singapore, allowing for intensive production in limited spaces. This method is seen as a supplement to traditional farming, decentralizing the food value chain and providing year-round local access to crops that are typically hard to grow.
Takeaways
- 🌍 Agriculture is the largest industry globally, and by 2050, food production must double to meet the needs of the growing population.
- 🚀 Investments in agritech surged by $10 billion in 2017, reflecting a 29% increase from the previous year.
- 🏛️ Government agencies, like Singapore's Agri-Food and Veterinary Authority (AVA), are supporting innovative farming solutions to bolster food security.
- 💡 Singapore is promoting scalable, intensive farming methods, including vertical fish farming, with plans to expand from 6 to 96 ponds by 2020.
- 🏢 Limited land availability in Singapore has led to the rise of vertical farming, which maximizes production with a smaller land footprint.
- 🌱 Vertical farming in Singapore grew from 12 farms in 2016 to 34 farms in 2018, driven by policies that encourage growth in urban environments.
- 🏗️ Collaboration between businesses and the AVA has led to policy changes allowing vertical farming in buildings, overcoming initial challenges.
- 🌐 Expansion plans for vertical farming include setting up facilities in Japan and Brunei, bringing food production closer to urban communities.
- 📦 Vertical farming aims to decentralize the food value chain, providing access to locally grown products that are typically hard to cultivate in certain areas.
- 🧑🌾 Vertical farms are expected to complement traditional farming systems by integrating smart technology to help optimize farming methods.
Q & A
What is the projected need for global food production by 2050?
-Global food production will need to double by 2050 in order to feed the growing population.
What trend is occurring in the agritech investment sector?
-Investments in agritech grew by 10 billion dollars in 2017, which was a 29% increase from the previous year.
How is the Singaporean government supporting sustainable farming?
-Government agencies like the Agri-Food and Veterinary Authority of Singapore advise farms on scalability and provide grants to farms that are able to scale up and adopt intensive farming techniques.
What is an example of vertical farming in Singapore?
-An example is a vertical fish farm that started with six ponds and plans to scale up to 96 ponds by 2020 with a 52 million dollar investment.
Why is vertical farming important in Singapore?
-Singapore faces land scarcity, making vertical farming essential for producing more food with a smaller footprint.
How has the number of vertical farms in Singapore changed between 2016 and 2018?
-The number of vertical farms in Singapore grew from 12 farms in 2016 to 34 in 2018.
What challenges do vertical farms face in urban environments?
-One of the biggest challenges for vertical farms in urban environments is rewriting policies to allow farming within buildings.
What future expansion plans are there for vertical farms in Asia?
-Vertical farming companies are planning expansions in Brunei and Japan, including a farm already established in Hiroshima.
How will vertical farming impact traditional farming systems?
-Vertical farming will supplement traditional farming systems by decentralizing the food value chain and growing crops that are otherwise difficult to produce locally.
What technologies are vertical farms using to optimize production?
-Vertical farms are integrating smart technologies that are customized to optimize production based on specific farming footprints.
Outlines
🌍 The Growing Challenge in Global Agriculture
Agriculture is the largest industry worldwide, but by 2050, global food production will need to double to meet the needs of the growing population. This challenge has captured global attention, drawing interest from startups aiming to close the food gap and investors who see the potential for innovation in the industry. Investments in agricultural technology reached $10 billion in 2017, a 29% increase from the previous year.
🚜 Singapore's Push for Sustainable Farming
Government agencies, such as Singapore's Agri-Food and Veterinary Authority (AVA), are actively supporting efforts to strengthen food security. They offer advice on scaling up production, especially in environments with limited space. Singapore’s first vertical fish farm is an example of this initiative, with plans to expand from 6 ponds to 96 by 2020, funded by a $52 million investment.
🏙️ Vertical Farming: A Solution for Urban Spaces
In densely populated areas like Singapore, where land is expensive, vertical farming is gaining traction as a more efficient method of food production. The number of vertical farms in Singapore grew from 12 in 2016 to 34 in 2018. AVA played a crucial role in helping adapt policies to support farming inside urban buildings, addressing challenges in rewriting existing regulations to accommodate this innovative approach.
🌾 Expansion of Vertical Farming Beyond Singapore
AVA is encouraging the expansion of vertical farming to other countries and urban areas, aiming to decentralize the food value chain. Singapore has already established a vertical farm in Hiroshima, Japan, and is planning an expansion into Brunei. The goal is to bring these farming models to more cities, closer to consumers, while also collaborating with outdoor farmers to integrate smart technology.
🥬 The Future of Farming: Collaboration and Innovation
Vertical farming is set to complement traditional farming systems by decentralizing food production and making it possible to grow crops that are usually difficult to cultivate locally. These farms can provide fresh, high-quality products year-round, and help outdoor farmers optimize their production with the use of smart, tailored technology. This collaborative effort between indoor and outdoor farming systems will transform the future of agriculture.
👩💼 Outro and Call to Action
Christine Todd concludes the video by encouraging viewers to explore more content from CNBC International. She highlights the importance of staying informed about developments in the agricultural industry and urges the audience to subscribe for further updates.
Mindmap
Keywords
💡Agriculture
💡Food production
💡Agri-tech
💡Food security
💡Vertical farming
💡Sustainability
💡Smart technology
💡Scalability
💡Decentralization
💡Urban farming
Highlights
Agriculture is the biggest industry globally, but by 2050, global food production must double to meet the demands of the growing population.
Startups and investors are focusing on closing the food gap, viewing the agricultural industry as ripe for innovation and change.
Investments in agri-food tech reached $10 billion in 2017, a 29% increase from the previous year.
The Agri-Food and Veterinary Authority of Singapore is actively supporting food security by advising on scalability and helping farms grow in a closed environment.
Singapore's first vertical fish farm was built with six ponds and plans to scale production to 96 ponds by 2020 through a $52 million mega-farm project.
Land in Singapore is expensive, pushing farmers toward intensive farming methods with a smaller footprint, focusing on sustainable practices.
Vertical farming is expanding in Singapore, growing from 12 farms in 2016 to 34 in 2018, showcasing its growing importance.
Policies had to be rewritten to accommodate vertical farming within building environments, a new frontier for regulatory agencies.
Singapore’s government encourages vertical farming expansion in urban cities, including satellite farms overseas to ensure local food security.
Plans for expansion of vertical farms include countries like Japan and Brunei, highlighting the global interest in these sustainable farming models.
Vertical farming will decentralize the traditional food value chain, allowing for local production of crops that are typically impossible to grow.
Vertical farms aim to provide year-round access to high-quality products like temporary crops in urban markets, closing the gap for fresh produce.
Collaboration with outdoor farmers will help integrate smart technology into traditional farming, optimizing their footprint and productivity.
Vertical farming is seen as a supplement to traditional farming systems, enhancing sustainability and efficiency.
The future of farming lies in combining smart technology and urban integration, which will help meet food production challenges in densely populated cities.
Transcripts
[Music]
agriculture the biggest industry in the
world
but by 2050 it said that global food
production will have to double in order
to feed all the people on the planet
this organizations a challenge that's
grabbing the walls attention from
startups eager to close the food gap to
make time investors who believe the
industry is ripe for change investments
in a griefer tech grew 10 billion
dollars in 2017 up 29 percent from the
year before government agencies like the
agri-food and veterinary Authority of
Singapore have also been sowing seeds to
bolster food security
they actually advise us on our
scalability how are we going to build
this more intensively in a closed
environment so they're actually giving a
lot of runs now to farms that are able
to scale-up built the first vertical
fish farm in Singapore from six ponds
he plans to scale up production to 96 by
2020 by building this 52 million dollar
mega far
[Music]
in Singapore our lane is expensive we
need to build this with a smaller
footprint to produce more so to go into
intensive farming I think sustainable
farming is the only way to work vertical
farming is blooming in Singapore growing
from 12 farms in 2016 to 34 in 2018
according to a VA with inside rebuilding
the environments are typically the same
what actually happened when first went
out and spoke with the ABA about taking
a space inside the building that was
very new for them so the biggest
challenge that we had was finding ways
to rewrite the policies that would
enable us to grow inside of this
building
ABA is also encouraging players to test
the waters over cities we are hoping
that you know we can build more
satellites over sea and we can build
this model into urban cities closer to
the community the consumers so for Japan
we already have a family in Hiroshima
Brunei we are looking into it now and
will be doing an expansion in Brunei in
as well
vertical farming is going to be a
supplement to all farming systems and it
will really decentralize the food value
chain as it seen today because we can
grow the impossible crops locally
vertical farms will be used to bring
those products that can't be grown into
markets so communities can have great
products like temporary products all
year round and then we can work with the
outdoor farmers to help them integrate
smart technology very bespoke to their
footprints to help them optimize their
farming
hi I'm Christine Todd and thanks for
watching
managing in Asia do check out more of
our videos by clicking on the boxes on
the screen and don't forget to subscribe
to our channel for more from CNBC
international thanks for watching
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