With the future of food in flux, Singapore-listed agribusinesses have room to expand

These firms playing a role in integrating tech and sustainability in the industry

- Geoff Howie

The world needs to ramp up food production to feed its growing population, with some estimates putting the amount needed at 70 per cent more by 2050.

At the same time, food wastage is alarmingly high owing to inadequate infrastructure, a lack of standardised global market data, and unmet demand for food-trade finance that is affecting many small and medium-sized enterprises.

Supply chain inefficiencies also contribute to about 14 per cent of global food loss.

These concerns, relayed by Oceanus Group's Mr Peter Koh, have resulted in the integration of technology and sustainability fast becoming a core part of the agribusiness industry, in which Singapore-listed companies play a role.

Some are even involved in the entire value chain, from production to retail. A prime example is Singapore-founded Wilmar International, which is Asia's leading agribusiness group.

Its operations span from growing crops to processing, branding and distributing a wide range of food and industrial products internationally.

Similarly, Golden Agri-Resources encompasses an efficient end-to-end supply chain, from responsible production to global delivery.

ASIA'S PIVOTAL ROLE The global agribusiness market is expected to grow steadily over the next decade or so, according to the Organisation for Economic Cooperation and Development and the United Nations' Food and Agriculture Organisation.

The organisations' outlook report for 2024-2033 further notes that emerging economies, particularly in Asia, are expected to play a pivotal role in shaping the global agricultural landscape.

Singapore, for instance, has set a 30 by 30 goal, aiming to produce 30 per cent of its nutritional needs by 2030. The initiative was launched in 2019 by the Singapore Food Agency.