Impact of Rising Interest Rates and Operating Costs on Singapore's High-Tech Farming Sector and Feasibility of Open Farm Style Traditional Agriculture

Ms Hazel Poa asked the Minister for Sustainability and the Environment (a) what is the Government's assessment of the impact of rising interest rates and operating costs, such as electricity and water costs, on Singapore’s high-tech farming sector; and (b) whether open farm style traditional agriculture can be equally supported to meet the goal of local farms producing 30% of Singapore’s nutritional needs locally by 2030.

This will be addressed in the next Sitting on 7 August 2024, together with similar Parliamentary Questions for a more holistic reply. [Please refer to "Progress of "30 By 30" Food Production Goal Given Recent Farm Closures", Official Report, 7 August 2024, Vol 95, Issue 139, Oral Answers to Questions section.]