Monday, March 31, 2008

Rising food prices in Singapore - and some potential remedies

Prices of food products have risen in Singapore. The Prime Minister has appealed to people to use frozen food products which are cheaper.

Since Singapore is totally dependent upon imported food articles, this state of affairs is likely to continue in future.

One way to cope with the increased cost of living is to earn more money by increased productivity and use of cutting-edge technology.

Another way is to enter into joint ventures with a friendly country in the production of food products and supply part of that production to Singaporeans at cheaper rates.

India has a huge agricultural sector which has not been exploited to its full potential so far on account of lack of finance and technological expertise.

Singapore can provide finance and technological know-how in the field of food processing, horticulture and floriculture in the States of Punjab, Haryana, Himachal Pradesh and Kashmir, and at the same time meet the food requirements of its people at an affordable price.

Participation in development and trade is preferable to simple trade.

This will also add to the development of the Asian region.

In course of time this will result in the formation of an Asian Union on the line of European Union, with its own long-term advantages in the not-too-distant future.

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