IoT-Enabled Farms and Climate-Adaptive Agriculture Technologies: Investment Lessons From Singapore

IFPRI Discussion Paper 1805

32 Pages Posted: 3 May 2019

See all articles by Jose Ma. Luis Montesclaros

Jose Ma. Luis Montesclaros

Nanyang Technological University (NTU)

Suresh Chandra Babu

International Food Policy Research Institute (IFPRI)

Paul S Teng

affiliation not provided to SSRN

Date Written: February 7, 2019

Abstract

The adoption of climate-adaptive agricultural technologies (CAATs) for extensive (outdoor) agriculture is stalled by funding gaps experienced by governments in the Mekong countries, with negative implications on the rural farming industry, on income and job security among smallholder farmers, and on food sufficiency and access across the population. We argue that one way of helping bridge these gaps is for providers and users of CAATs for extensive agriculture to learn from the practices of those in CAATs for intensive (indoor) agriculture. Indoor CAATs are already receiving significant private-sector investment, a key reason being their ability to leverage the complementary nature of these technologies within farms that are integrated and enabled to use the so-called Internet of things (IoT). Seamlessly linking different CAATs (sensors, crop analytics, and automation) can allow for synergies that significantly boost crop yields and, in turn, the viability of investing in CAATs. We demonstrate these synergies through two case studies, one that looks at the increasing global investment in indoor CAATs and another that describes a financial viability assessment for an indoor farm in Singapore. We conclude with lessons on how these insights can be transferred to the Mekong countries, including a prototype IoT-enabled extensive farm that integrates multiple CAATs, and an investment assessment tool for translating the yield benefits into terms that investors can appreciate.

Keywords: investment, climate-smart agriculture, private sector, technology, innovation adoption, climate change adaptation, information and communication technologies (ICTs)

Suggested Citation

Montesclaros, Jose Ma. Luis and Babu, Suresh Chandra and Teng, Paul S, IoT-Enabled Farms and Climate-Adaptive Agriculture Technologies: Investment Lessons From Singapore (February 7, 2019). IFPRI Discussion Paper 1805. Available at SSRN: https://ssrn.com/abstract=3363740

Jose Ma. Luis Montesclaros (Contact Author)

Nanyang Technological University (NTU) ( email )

S3 B2-A28 Nanyang Avenue
Singapore, 639798
Singapore

Suresh Chandra Babu

International Food Policy Research Institute (IFPRI) ( email )

1201 Eye St., NW
Communications Division
Washington, DC 20006
United States

Paul S Teng

affiliation not provided to SSRN

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