The growth of Singapore's vertical farming sector | Managing Asia

Summary

The 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.