Agritech industries are complicated; a tremendous amount of research and developments are needed to build great technologies. Known as agricultural technology, it revolves around sustainable farming methods to improve yielding and efficiency.
Since the rise of digital, agritech has also kept up with modern times; creating digital services in applications that sell chemical-free fertilizers, heirloom seeds, and smart agriculture techniques, connecting buyers to sellers based in rural markets.
Organic farming and food production are attracting much interest from both home gardeners and farms. Heirloom seeds, organic fertilizers, compost, and mulch all play a role in this scenario, and agritech contributes to this aid.
Moreover, integrated farming is becoming more popular among farmers. They are looking at silkworm and honey bee rearing and fish culture to avoid relying on a single source of income for their occupation. This way, farmers can explore a wide range of activities by combining agriculture and technology.
Most things can be done at the tip of the finger thanks to technology; people can have accessibility to start soilless agriculture, or hydroponics, by using a nutrient solution instead of soil to grow crops. Farmers can grow more crops on smaller pieces of land. Each acre receives an ample quantity of seeds, fertilizers, and timely water to gain optimum yield.
Why AgriTech Is So Vital In Malaysia
Agriculture, fishery, and forestry employ about 10% of Malaysia’s workforce and provide about 8% of the country’s GDP. Rubber, palm oil, cocoa, and wood products make for almost half of the production, contributing significantly to tropical fruits and grains.
In 2019, Malaysia’s worldwide agricultural trade was $43.5 billion, with $25 billion in exports and $18.3 billion in imports. Palm oil remains the main export, and the top markets for Malaysia products have included India, the European Union, China, Pakistan, and the United States. However, many essential items, including wheat, rice, dairy products, protein meal, and most deciduous and citrus fruits, are still largely reliant on imports from other countries.
Challenges For Imported Products In The Malaysian Market
Many items in the United States must be halal certified, which may be a time-consuming, complicated process. While Malaysia established free trade agreements with Australia and New Zealand, both countries have a substantial presence in the country’s consumer-oriented food and beverage sector. ASEAN countries such as China are gaining market share and facing stiff rivalry from Australia and New Zealand.
Top Picks of Agritech Companies In Malaysia
BoomGrow Farms is setting a new route in quality, efficiency, and production through controlled environment farming. This is referred to as – Machine Farm. The technology used achieves the ideal mix of flavor, freshness, and nutrition while also taking in a more environmentally friendly approach to growing food.
This organization focuses on innovation, sustainability, and agrotechnology. They offer multiple services like soil profiling, ground electromagnetic, rodent and pest control, aerial survey, and many more. They aspire to succeed in their business operations and grow RDV into an innovative and creative company by fostering a surrounding that encourages the production of knowledge and its application to work.
Planters may keep track of each worker’s progress throughout the day, including how many plants they’ve harvested. This allows farmers to pay workers more fairly, motivate them to reap in hard-to-reach areas, and reward them for good work, resulting in a more egalitarian approach in workplaces and loyal workers. In addition, the creation of the TanaLink EARS Platform eliminates waste, boosts yield and operational efficiency.
Fefifo.co is a technology-driven co-farming enterprise in ASEAN that aims to empower the next generation of progressive farmers. They make farming more accessible by preparing farmland for planting without significant time and heavy financial commitment. As a result, farmers may concentrate on what they do best.
Agri Space Tech is a leading agriculture solutions supplier in the region, utilizing current technology to address sustainable farming needs. They specialize in commercial solutions, which include anything from greenhouse building to fully integrated farming systems.
Even though there aren’t many established agritech businesses in Malaysia, it’s slowly evolving at a rapid rate. While this business has previously been underfunded and infamous, it has its turnover. Agritech is becoming more accessible and appealing to the younger generation thanks to these technological advancements.
This comes from the additional support from The Malaysia Digital Economy Corporation (MEDC) and CIMB Islamic Bank Bhd successfully signing a memorandum of understanding (MoU) to expand an extended microfinancing program initiative with an initial funding package of RM25 million to catalyze the Digital Agriculture Technology (Digital AgTech). The goal is to expand the use of digital technology in local farming. In addition, both sides aim to encourage youths to engage in agriculture and take advantage of the opportunities available.