As a highly urbanised city-state, Singapore Agriculture is a small but growing industry, comprising only about <1% of its total GDP. Nevertheless, the country has made use of biotechnology to make up for the lack of hinterland, such as rooftop and vertical farming. Fruits produced in Singapore include durians; rambutan and mangos teens while edible fungus produced in the country include mushrooms. There are also farms in the country responsible for the production of eggs, vegetables, poultry and pork.
According to the analysis, ‘Singapore Agriculture Market Trends, Statistics, Growth, and Forecasts’ The Singapore government has been supporting the agriculture industry with a number of policies, trying to stabilise the output and seeking ways to ensure the sector is growing healthily and sustainably. The Singapore federal government has been highly supportive of agriculture for decades, and there is broad political consensus as to the need for land, labour and tax reform to help the sector reach its potential. Due to supportive policies, the agriculture sector’s performance has been improving steadily in recent years. Singapore keeps its first rank in the world in terms of farming output, producing large quantities of rice, wheat, cotton, meat, poultry, eggs and fishery products. New market trends continue to emerge in Singapore Agricultural Sectors, in particular, driven by improving economic conditions. Foray of new companies coupled with technological advancements continue to shape new market dynamics. The new strategy calls for more efforts to ensure the supply of key farm products, promoting the supply-side structural reform and, more importantly, enhancing environmental protection as well as pollution prevention and waste treatment. Despite the rapid development of Singapore’s agriculture sector, problems emerge in relation to a variety of aspects, including the shrinking arable land, the deteriorating ecological status of environment due to the heavy use of fertilisers and pesticides, and the issue of food security. There is also much room to improve in terms of increasing the use of machinery and advanced technologies in the agriculture sector.
The government has adopted a number of multi-year policies, such as a pledge to double farmer incomes and become self-sufficient in pulses over an unspecified short-term period. However, reform needs to go much deeper, especially considering the fact that in the years to 2050, agriculture is expected to provide livelihoods for about half the rural population, despite ongoing urbanisation in the country.
The Singapore government has for decades actively supported the agriculture sector through mechanisms such as fertiliser subsidies, and relaxed lending conditions, amongst others, allowing farmers to have a fair estimation of their revenues and plan for the next agricultural season accordingly. Through a network of public institutions and various programmes and schemes, Singapore’s federal and regional authorities are trying to protect agricultural producers and boost production. Moreover, the increasing demand for high-quality agricultural products versus their limited supply ultimately results in increased imports. Some major product categories, including soybeans and dairy foods, have been heavily dependent on imports for many years. Thus, it is predicted that the Singapore Agriculture Market can increase in approaching years.
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Singapore Agriculture Market Research Report
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