Singapore had 74 sea-based fish farms in October 2024, down from 98 in 2023.
All of the sea-based fish farms currently in operation in Singapore are located in the Johor Strait. But farmers have expressed concern about deteriorating water quality.About a quarter of Singapore’s sea-based fish farms have exited the industry over the past year, with some farm operators saying they had accepted a financial support package from the authorities to wind up operations.
The Straits Times has asked SFA how many farmers accepted this package, which amounted to up to $100,000. Those who opted for the support package cited factors such as higher costs and changing environmental conditions that could impact yield. Some also decided to retire. Mr Wee, who had been farming for about 15 years, said he spent around $40,000 on disposing of his farm and the surveys, allowing him to pocket the remaining $60,000 as retirement savings.
“This leaves us with no choice but to either bite the bullet and continue farming, or shut down our farm and exit the industry,” he added. The agency added that it will support farmers who are keen to increase productivity, by providing account managers to assist and advise them, as well as through funding support for technology adoption.$65m fish farm to be sold at fraction of cost amid owner’s financial woes
“We don’t know if the lease will end up becoming way too expensive compared with the amount that we currently pay on a yearly basis, and if it does, it’ll end up being unsustainable for us to continue farming,” he told ST.
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