Farmers have poured cold water on government plans to develop a vertical farming industry on the island. Jason Hayward, the Minister of Economy and Labour, unveiled the initiative at a press conference last month, claiming that — on the advice of consultancy firm KPMG — vertical farming could be a key plank in an economic recovery plan to create jobs and reduce the cost of living.
But the Bermuda Farmers Association has questioned if the scheme is economically viable. The association also claimed that local growers have been kept in the dark about the scheme, arguing that they should have been consulted.
A spokesman said, “The narrow market segment of food production that this venture represents is filled in part by local production all year – and in the spring, there is overproduction.
“The BFA has done its own market research and concluded that the island demand is too low for such a venture considering the high capital costs required and the lack of a sound business case going forward.
“What is very upsetting is there are five separate small local greenhouse ventures of approximately 6,000 square feet each that are fledgling operations. These could avail support to get operating on a year-round basis to fill demand for the leafy green market.”
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