Singapore best suited to spread cold chain through Asia and beyond

SINGAPORE holds the strongest potential for US reefer exports in a global market ripe for growth, according to the US International Trade Administration's (ITA) 2016 Cold Chain Top Markets Report.

What's needed is a sound regulatory environment, a trainable skilled labour force, and demand within the country or region. Singapore's well-established infrastructure, business-friendly climate and high per capita income make it a top market for the cold chain. Its proximity to the Association of Southeast Asian Nations (ASEAN) trading bloc make it ideal for cross-docking and distribution networks in the region.

"The population of Singapore is considered high income, with a per capita income of about US$80,270 (purchasing power parity) per year", "unemployment has held steady around three per cent, and inflation was low, around 0.2 per cent, in 2014", "Singapore's retail food sector is one of the most advanced in the world. Food spending is expected to reach nearly $9 billion by 2020", "the World Economic Forum lists food crises as fourth on its top global risks of highest concern for the next 10 years,"said the ITA report.

(Seanews)