Singapore’s transformation of the agri-food industry
The urgency for a sustainable global food system has never been greater. With extreme weather conditions, supply disruptions, and other challenges, food production and availability are decreasing worldwide. All countries need to revolutionize the way they farm and produce food. Singapore is leading the way by transforming its agri-food industry, working towards securing its future food supply.
Singapore’s Ambitious 30 by 30 Goal
Did you know that Singapore imports over 90% of its food?
This makes them highly vulnerable to supply shocks and disruptions. This has led them to set an audacious goal to ensure greater food resilience – the “30 by 30” goal.
By 2030, Singapore aims to produce 30% of its alimentary needs within Singapore. And, while this might not seem that audacious, think about this: less than 1% of their land is used or available for farming. Now, that calls for extreme efficiency!
Singapore needs to overhaul its farming practices to realize this ambitious goal. They need to grow more with less – using highly productive, climate-resilient, and resource-efficient methods. This is where technology and innovative agri-business entrepreneurs come in, and we’ve found a wealth of companies, executives, knowledge, and insights in global business to share with business students.
Singapore currently ranks among the top 30 countries in food resilience according to the 2022 Global Food Security Index. With a score of 73.1 out of 100, Singapore is making strides in all 4 pillars that the index considers:
- Economic resilience (affordability)
- Production and agricultural resilience (availability)
- Nutritional resilience (quality and safety)
- Environmental resilience (sustainability and adaptation)
How Technological Advancements in the Agri-food Industry are Changing the Game
As we move forward, technological innovations appear to be the solution we need for most challenges, and those in the agri-food industry are no exception.
For example, the Recirculatory Aquaculture System (RAS) is an innovation transforming farming methods. This is a closed-cycle aquaculture system in which the water from fish tanks is recycled. The system has proven to be resource-efficient, sustainable, and environmentally friendly. It helps farmers to achieve higher yields in a smaller space while minimizing environmental impact. Innovative technologies such as this provide hope to Singapore farmers as the country targets to produce 30% of its food by 2030.
Moreover, RAS is just one of the technological innovations changing how we farm. Some biotech companies are using gene editing technology to improve the resistance of crops to pests and disease, while others are using vertical and urban farming methods to produce food in limited spaces.
Using drones, artificial intelligence, and robots in farming practices is also gaining momentum. These technologies can help farmers to monitor crop growth, detect potential problems, and apply solutions remotely. This level of precision in farming practices leads to increased efficiency and higher yields.
Apart from technological innovations, sustainable farming methods are also gaining ground. We see more farmers adopting regenerative agriculture practices, focusing on replenishing soil health and reducing environmental degradation. Sustainable agriculture is a holistic approach that aims to enhance the well-being of the environment and the community.
Sample Company Visits and Business Meetings Related to this Topic
Vertical Oceans: Revolutionizing Aquaculture in Downtown Singapore
Vertical Oceans, located in the heart of Singapore’s aquaculture innovation hub, is a cutting-edge technology company pioneering the use of vertical aquaculture to cultivate shrimp. With their sustainable and scalable model, they are revolutionizing the way shrimp is produced.
Inspired by a passion for improving the aquaculture industry, CEO John Diener founded Vertical Oceans in 2016. Fed up with traditional farming methods that relied on chemicals and antibiotics and the detrimental impact on the oceans, Diener set out to create a solution.
By harnessing the power of indoor vertical farming, Vertical Oceans can produce fresh, high-quality seafood without harming the environment. Their innovative approach eliminates the need for chemicals or antibiotics, ensuring that only the best shrimp reaches consumers.
Upgrown Farming
This Singapore-based agri-tech company specializes in project management and systems integration for commercial controlled environment agriculture. They are experts in indoor farming, vertical farming, and greenhouse hydroponics solutions.
Their mission is to make high-quality local food accessible to everyone while building healthier and more sustainable communities. Their farming models focus on maximizing productivity and reducing reliance on natural resources like arable land and water to ensure commercial success.
They offer various services, including consultancy, training, research and development, design, implementation, and operation. They work with top international agri-tech companies and brands distributing horticulture solutions, including lighting, growing systems, and other supplies.
In conclusion, the global food crisis calls for innovative approaches, and technological advancements are emerging as the answer we need. Sustainable farming practices and technologies such as RAS are making a difference in many parts of the world by increasing productivity while conserving resources and minimizing environmental impact. The agri-food industry is changing, and we must embrace these changes to overcome the current challenges and ensure a brighter future for generations to come. Business school professors can shine a light on this critical issue and inspire student to see how sustainability is becoming a mainstream business decision affecting our planet’s future and everyday lives.
