The Food Fund, set up by the Agri-Food and Veterinary Authority (AVA), has two arms: food-capability development and food diversification.

Food diversification focuses on cultivating new overseas food sources for rice, pork, chicken, fish, eggs and leafy vegetables. It will also co-fund studies on investment in overseas food zones and contract farming.

Related costs such as travel, manpower and professional services can also be covered by this fund.

The fund will also help develop research into how to increase productivity at the 266 farms here.

It aims to increase Singapore’s supply of local produce in the next five years from 23 per cent to 30 per cent for eggs; 4 per cent to 15 per cent for fish; and 7 per cent to 10 per cent for leafy vegetables.

The research and development projects will focus on breeding programmes for food fish, development of high yield vegetable crops and post-harvest technology.

Minister for National Development Mah Bow Tan said that while Singapore would never be able to cater for the population’s total food needs, the fund was an important factor in establishing stability in the country’s food supply.