Local farms get S$10m upgrade boost

SINGAPORE — An extra S$10 million is being invested in local farms through the Agri-Food and Veterinary Authority’s (AVA) Food Fund, Minister for National Development Khaw Boon Wan announced at the first Food Industry Convention 2013 this morning (Oct 10).

The Food Fund co-funds research and development in local farming technology, helping local farms upgrade their production capability and food source diversification.

Besides pumping in more money, the third phase of Food Fund will include changes such as a simplified eligibility criteria for farm capability upgrading.

Applicants for the Basic Farm Capability Upgrading and Technical Boosters categories no longer need to submit their income statement nor productivity improvement plan. The only supporting document required is the updated ACRA records of the company.

The evaluation criteria will also be more comprehensive, to include farm productivity and past application performance.

On top of that, expansion plans for the third phase of the food fund will include a longer pre-approved list of farm equipment under the Basic Farm Capability Upgrading.

Likewise, AVA will now co-fund up to 50 per cent of the costs incurred in the Technical Boosters category, up from the 30 per cent previously. Farmers can also purchase more items, such as vaccines, feeds, fertilisers and pesticides to boost capability and productivity.

Speaking to the audience, Mr Khaw encouraged them to “make good use of the Food Fund” to make farms “more productive, innovative, and competitive”.

He also shared that nearly S$20 million has been spent from the AVA Food Fund that was set up in 2009. The money has since benefitted 71 companies and 141 projects.