- POSTED: 10 Oct 2013 15:27
- UPDATED: 10 Oct 2013 19:54
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Another S$10 million has been added to the Agri-Food and Veterinary Authority's (AVA) Food Fund to support local farming and enhance Singapore’s food supply resilience.
SINGAPORE: Another S$10 million has been added to the Agri-Food and Veterinary Authority's (AVA) Food Fund to support local farming and enhance Singapore’s food supply resilience.
This was announced by the Minister for National Development Khaw Boon Wan at the inaugural AVA Food Industry Convention on Thursday.
Mr Khaw said farmers can look forward to greater funding support.
They can now buy vaccines, feeds, fertilisers and pesticides, in addition to seeds or fish fry.
The pre-approved list of farm equipment under the fund has also been expanded to include new equipment, like a water treatment system for fish, and seed sowing machine for vegetables.
Mr Khaw added that AVA will also simplify the application process for farmers to tap on the AVA Food Fund so that they can make their farms more productive, innovative and competitive.
One company which has benefited from the fund is Barramundi ASIA Pte Ltd, a fish farm.
Yee See Wun, finance manager of Barramundi ASIA Pte Ltd, said: "It helped us in funding our capital assets. Farming, fish farming and the development of the nursery itself is a very capital-intensive endeavour."
The fish farm has expanded its nursery and is now able to produce up to five times more fish fry per cycle.
The AVA Food Fund was launched in 2009 to help farmers diversify their food production, invest in technology and adopt efficient farming methods so that they can grow more with less land and fewer workers.
Nearly S$20 million has been spent and 71 companies have benefited so far.
The companies' projects have increased local farm production by 550 tonnes of fish and 360 tonnes of leafy vegetables.