In a news report it was mentioned that a property developer Eric Cheng walks across his floating farm in Singapore. His wife and business associates say he’s crazy to invest almost S$1 million (US$729,395) in a fish farm, but Singaporean property developer Eric Cheng does not mind a bit. he his very much confident on his foray into aquaculture that it will make money as seafood- loving, import-dependent Singapore strives to boost local production and enhance its food security.
It is fact that surging food prices last year has result in global supply crunch. This has reminded Singapore of its vulnerability and prompted the government to take a fresh look at its agricultural policies and support investors willing to go into farming. According to Cheng he had started with zero experience but has successfully grow and sell garoupa, a fleshy, succulent fish variety popular across Asia.
He informed that Singapore produces less than 5 percent of its own consumption of seafood and if one can supply in sufficient quantities to the local market, then he or she can make it. The self-made Cheng is managing director of ECG Group, a property-based concern also involved in car rental, finance and technology.
Singapore is surrounded by waters where floating fish farms can thrive side-by-side with ocean-going vessels loaded with electronics and petrochemicals destined for the world market. The Agri-Food and Veterinary Authority (AVA) said in a statement that the Food Fund has been set up to enhance Singapore’s food supply resilience, especially in chicken, pork, fish, eggs, leafy vegetables and rice. Singapore’s goal is to raise local production of fish to 15 percent of domestic demand from 4 percent at present, eggs to 30 percent from 23 percent and leafy vegetables to 10 percent from 7 percent.
