The local orchid industry has lost two-thirds of its export value in the past decade, prompting growers to change their business models and invest in new technology in order to keep their businesses from wilting.
The value of Singapore’s orchid exports shriveled from about S$23 million in 2013 to S$7.5 million last year.
Since the National Parks Board (NParks) began managing the local orchid industry in 2018, it has been stepping up efforts to help growers adapt and thrive, especially in a land-scarce country.
This includes refining the system of bidding for agricultural land, advising them on how to specialize, funding the use of technology, and finding ways to adapt for the future.
Singapore’s orchid sector is in the spotlight this week as the country hosts the current edition of the Asia Pacific Orchid Conference, where experts, academics, and professionals are gathering to share knowledge and exchange insights.
Read more at channelnewsasia.com