Financial Cost Of 'Vertical Farming' An Impediment To Sector's Expansion
The startup cost for a 'vertical farming' operation is prohibitive, and governments should step in to offer grants and tax breaks to assist this growing sector, an industry expert has said.
Simon Harvey of GlobalData was commenting following increased investment in the vertical farming industry by retailers in recent years, with Kroger and Ocado among those backing the growing sector in the past year.
“Cultivating fresh produce such as leafy vegetables, soft fruits and herbs in a controlled environment remains a nascent industry for now, but the myriad of firms taking up the technology expect the market to really start developing over the next five years or so," Harvey said.
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