It wouldn’t be accurate to suggest that Singapore is in a precarious position when it comes to its food supply, but the stats aren’t in its favor: only 13% of vegetables consumed in Singapore are grown locally, and 90% of its food is imported from other countries.
Singaporeans are familiar with the “30 by 30” initiative. The goal is to develop homegrown capabilities to produce 30% of the city-state’s food by 2030. It’s an ambitious goal, one that has inspired a slew of agritech startups to devise new ways to grow crops.
Vertical farms and aquaponics are two types of food-growing operations that have been making headway in Singapore. And it’s becoming easier for businesses that are developing new ways to sprout greens or, less commonly, rear animals for meat to receive grants from the government and supercharge their R&D. Additionally, private investors are also eyeing opportunities to write checks for the next big thing in the agrifood space.
Amirah unpacked these developments. You can read her report here.
Recent Posts
Ailing Alibaba tries to heal itself from within.
US-listed China stocks tank after Ant IPO revival reports denied.
Fast fashion retailer Shein pledges USD 50 million for a new sustainability fund.