Strengthening resilience of food supply
We will continue to support our farmers to increase productivity, while ensuring that local production remains climate-resilient and resource-efficient.
- $60 million Agri-Food Cluster Transformation (ACT) Fund, which was established in 2021, will be enhanced to offer higher co-funding quantum for a wider range of food types such as fruited vegetables, mushrooms, and shrimp.
- New land and sea tenders will also be launched on 20+10-year leases from end 2022 to provide businesses with certainty and facilitate long-term planning and investments.
- Temporary occupation licences (TOL) will be introduced for existing farms to transition them to leasehold.
- Most sea-based farmers will also see a substantial reduction in their annual fish farm licence fee after SFA’s review to ensure compliance costs incurred by farms are minimised and relevant.