World

A quarter of Singapore’s fish farms stop operations in past year

About a quarter of Singapore’s sea-based fish farms have exited the industry over the past year, figures from Singapore Food Agency (SFA) showed.

All of the sea-based fish farms currently in operation in Singapore are located in the Johor Strait. (Photo: The Straits Times)
All of the sea-based fish farms currently in operation in Singapore are located in the Johor Strait. (Photo: The Straits Times)

Singapore (VNA) - About a quarter of Singapore’s sea-based fish farms have exited the industry over the past year, figures from Singapore Food Agency (SFA) showed.

There were 74 sea-based fish farms in October, down from 98 in 2023, according to its 2023 food statistics report. Between 2019 and 2022, the number of sea-based fish farms held steady at about 110.

Some farm operators said they had accepted a financial support package of up to 100,000 SGD (75,753 USD) from SFA to wind up operations.

The support package comes as sea-based fish farms in Singapore are being transitioned to a new sea space management model by the SFA, which the agency announced in 2022.

Previously, farmers didn’t have to pay for the use of sea spaces but will have to do so under the new scheme that took effect in 2024. It means that the cost of maintaining a farm is expected to increase, with farms set to pay 3,600 SGD per year to use half a hectare of sea space from 2026, in addition to a 145 SGD annual farm licence fee.

Farmers are currently paying 20% of the 3,600 SGD fee in 2024, and will pay 50% in 2025, to mitigate the impact of the increase.

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./.

VNA
#Singapore #sea-based fish farms #support package #stop operation Singapore
Follow VietnamPlus

Related News

Singapore spends 270 million USD on AI infrastructure, human resources (Photo: edb.gov.sg)

Singapore spends 270 million USD on AI infrastructure, human resources

Singapore’s National Research Foundation (NRF) will allocate 270 million USD to the National Supercomputing Centre (NSCC) in the next three years to train specialists and develop next-gen supercomputers in order to boost AI through supercomputing talent and infrastructure.

Singapore is promoting research on CO2 capture and storage. (Illustrative photo: VNA)

Singapore promotes research on CO2 capture, storage

Singapore is taking steps to study how planet-warming carbon dioxide (CO2) from natural gas power plants can be captured and locked away, as the city state is likely to continue relying on fossil fuel over the next few decades.

See more

Malaysian Deputy Minister of Communications Teo Nie Ching. (Photo: Bernama)

Malaysia records sharp rise in online scam losses

Teo revealed on May 16 that online scam losses in Malaysia reached 2.77 billion RM (about 700 million USD) last year, compared with 1.28 billion RM in 2023 and 1.57 billion RM in 2024. Investment scams accounted for the largest share of the losses.

Scientists discover largest dinosaur species ever found in Thailand

Scientists discover largest dinosaur species ever found in Thailand

According to the researchers, Nagatitan Chaiyaphumensis belonged to the Titanosauridae family, a group of herbivorous dinosaurs characterised by their long necks and tails. The species is estimated to have measured between 27 and 30 metres in length and weighed more than 26 tonnes.

Cambodia lowers 2026 economic growth forecast to 4.2%

Cambodia lowers 2026 economic growth forecast to 4.2%

According to the medium-term fiscal framework for 2027-2029 recently published by Cambodian Prime Minister Hun Manet, Cambodia is navigating a transition against a backdrop of protracted global crises, including rising protectionism, trade wars, geopolitical and geo-economic tensions, and increasingly severe impacts of climate change and natural disasters as well.

Thailand enters 2026 rainy season

Thailand enters 2026 rainy season

According to forecasts by the Thai Meteorological Department (TMD), Thailand entered the rainy season, after key meteorological conditions met the criteria for the start of the season.

Agriculture Minister Andi Amran Sulaiman (second from the right) checked the Bulog's rental warehouse in the Romokalisari Warehouse Complex, Surabaya, East Java on May 13, 2026. (Photo: Antara)

Indonesia records highest-ever rice reserves

The figure marks the highest level of rice stocks in Indonesia’s history as the country steps up policies aimed at boosting agricultural output and strengthening national food security.

Philippines warns of power cuts as heat strains grids

Philippines warns of power cuts as heat strains grids

The National Grid Corporation of the Philippines (NGCP) issued a red alert, warning of potential outages of up to seven hours in 32 areas across the Visayas grid, and hour-long outages in nine areas across Luzon, including the capital Manila.

Myanmar steps up efforts to prevent cybercrime

Myanmar steps up efforts to prevent cybercrime

A Myanmar bill proposes the death penalty as the highest punishment for individuals who illegally abduct, abuse, torture or detain others to coerce them into committing online fraud. It also proposes a maximum sentence of life imprisonment for individuals directly operating scam centres or engaging in fraud involving digital currencies.

Vietnam win 3–2 over the UAE in the final Group C match of the AFC U17 Asian Cup 2026 in Saudi Arabia on early May 14 (Vietnam time). (Photo: Vietnam Football Federation)

Thai media hail Vietnam U17s after dramatic comeback victory

The Thai Youth Football fanpage published an article praising the Vietnamese “golden star warriors” for displaying extraordinary fighting spirit in overturning the match to defeat the UAE 3–2, thereby topping Group C for the first time and earning a place at the U17 World Cup in Qatar later this year.

Electric vehicles line up at charging ports in a Manila mall. (Photo: philstar.com)

Philippines moves closer to launching EV incentive programme

Secretary of Finance Frederick Go said on May 13 the EV Incentive Strategy (EVIS) may be released soon. The EVIS has already been presented to President Marcos, but the Board of Investments (BOI) is still working with other agencies in the Fiscal Incentives Review Board (FIRB) on the details of the programme.