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.
Singapore Food Agency (SFA) figures showed that there were 74 sea-based fish farms in October 2024, down from 98 in 2023, according to its food statistics report. Between 2019 and 2022, the number of sea-based fish farms held steady at about 110.
At least five fish farm operators that The Sunday Times spoke to said they were offered a support package from SFA to ease the financial burden of winding up their operations.
Farmers said they had a yearbetween July 2023 and June 2024 -to take up the package to help them reinstate the sea space their farms occupied.
ST has asked SFA how many farmers accepted this package, which amounted to up to $100,000.
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.
Farms will have to pay for the use of sea spaces under the new scheme, which took effect in 2024. They did not have to previously.
For fish farm operators, this means that the cost of maintaining a farm is expected to increase, with farms set to pay $3,600 per year to use half a hectare of sea space from 2026, in addition to a $145 annual farm licence fee.
Farmers are currently paying 20 per cent of the $3,600 fee in 2024, and will pay 50 per cent in 2025, to mitigate the impact of the increase.
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