Koh Poh Koon on Singapore’s ‘30 by 30’ goal amid recent spate of local farm closures
During the COVID-19 pandemic and the initial phase of re-opening, Singapore’s farms faced a shortage of foreign workers and construction delays. In the post-pandemic period, inflation and energy price hikes exacerbated by geopolitical tensions, as well as a more challenging financial environment, have added to their challenges. Some farms have taken a pause in development works to re-evaluate and fine-tune their business models. Global agri-tech companies have also not been spared from these headwinds. While there have been some farm closures, existing players are looking to expand their operations and new players are entering the agri-food sector. Overall, the total number of land-based and sea-based farms remained relatively stable at about 250 since 2019. Senior Minister of State for Sustainability and the Environment Koh Poh Koon gave this update in reply to Parliamentary questions on Wednesday (Aug 7). Dr Koh said the “30 by 30” vision has always been an aspiration to enhance Singapore's food security. He said the Singapore Food Agency will continue to anchor more local farms and help them to scale up over time.
During the COVID-19 pandemic and the initial phase of re-opening, Singapore’s farms faced a shortage of foreign workers and construction delays. In the post-pandemic period, inflation and energy price hikes exacerbated by geopolitical tensions, as well as a more challenging financial environment, have added to their challenges. Some farms have taken a pause in development works to re-evaluate and fine-tune their business models. Global agri-tech companies have also not been spared from these headwinds. While there have been some farm closures, existing players are looking to expand their operations and new players are entering the agri-food sector. Overall, the total number of land-based and sea-based farms remained relatively stable at about 250 since 2019. Senior Minister of State for Sustainability and the Environment Koh Poh Koon gave this update in reply to Parliamentary questions on Wednesday (Aug 7). Dr Koh said the “30 by 30” vision has always been an aspiration to enhance Singapore's food security. He said the Singapore Food Agency will continue to anchor more local farms and help them to scale up over time.
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