Agrometeorological Data Collection And Analytics
Agrometeorological Data Collection And Analytics
Business Model Description
Invest in companies that provide agrometeorological data collection and analytics technologies/ These companies offer a range of software, hardware, and services via B2C models for individual farmers, through B2B models for agricultural cooperatives as well as B2G models for government agencies. Revenue is generated from the sale and leasing of technologies and systems, as well as via subscription-based models, and charging for consulting and other value-added services. Examples of companies active in this space are:
METOS Pessl Instruments provides agrometeorological solutions for farmers, researchers, and agribusinesses. The METOS weather station has sensors to collect real-time weather data including temperature, humidity and wind speed. They offer other solutions including soil moisture sensors. Holding company Pessl Instruments GmbH has raised a total of c USD 976,000 to date (20).
Avirtech offers advanced aerial imaging and remote sensing solutions. Their Aviro Drone generates aerial footage and carries out topographical mapping. Their products also include drones for precision spraying, communication nodes and cloud-based platforms to process, store, and analyze data. Avirtech was awarded the Global Testbed Incentives from MDEC and Iskandar Investment Berhad (50).
Singularity Aerotech Asia specializes in IoT and Big Data Analytics. Their platform SM4RT TANI offers weather, water and soil monitoring, incorporating predictive analytics. Their complementary Urus Tani product is a digital farm management platform that manages inventory and farm operations. As of 2021, SM4RT TANI onboarded 10 farms across peninsular Malaysia (44, 51).
Expected Impact
Increase food security and self-sufficiency, optimize the use of resources and enhance sustainable agriculture through technology usage, to increase farmers' income and the agricultural sector's share of GDP.
How is this information gathered?
Investment opportunities with potential to contribute to sustainable development are based on country-level SDG Investor Maps.
Disclaimer
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Country & Regions
- Malaysia: Kelantan
- Malaysia: Kedah
- Malaysia: Perlis
- Malaysia: Johor
- Malaysia: Sabah
Sector Classification
Food and Beverage
Development need
Agriculture employs 1.86 million workers (44), grapples with social protection challenges. Malaysia's food trade deficit has surged from USD 371.87 million in 1988 to USD 4.57 billion (10). The late 2021 and early 2022 floods inflicted nearly RM 90.6 million (USD 19.62 million) in damages to the sector, underlining the need for enhanced resilience. (45)
Policy priority
Under the 12th Malaysia Plan (1), Ministry of Agriculture and Food Security (MAFS) received USD 1.5 billion allocation, setting food security and agriculture as priorities. The 2021 NDCs' emphasizes on these sectors for GHG reduction (46), the First Policy Thrust of the 2021-2030 National Agrofood Policy (2) and 2021-2025 Food Security Plan aim for tech-driven transformations.
Gender inequalities and marginalization issues
Agriculture and food production significantly influence growth, vital for rural areas and smallholder farmers (16). Yet, challenges persist: 56 per cent of workers are non-standard, facing higher retrenchment risks, and over 30 per cent are under protected foreign workers (47). Almost 90 per cent of agricultural establishments are SMEs, including 40 per cent micro-enterprises, employing 42 per cent of the sector's workforce (20).
Investment opportunities introduction
Malaysia prioritizes food security and agriculture development, as RM5.38 billion or USD 1.16 billion is allocated to the Ministry of Agriculture and Food Security (MAFS) under Budget 2023 to address challenges in food production and supply (5). The food & Agri-Tech sector received USD 1.33 billion in private start-up funding during Jan-Nov 2022 (4).
Key bottlenecks introduction
Malaysia remains vulnerable due to extreme weather conditions and climate change, resulting to floods and drought in areas whereby cultivation of crops become unfeasible (11). The late 2021 and early 2022 floods inflicted nearly USD 19.5 million in damages to the sector (45), due to climate change extreme weather condition is forecasted to bring more damages.
Food and Agriculture
Development need
A critical part of the economy, agriculture, employing 1.86 million workers (44), faces social protection issues. Agri-Tech development can promote eco-friendly, efficient farming (15), mitigating RM 482.8 billion (USD 104.54 billion) decade-long food import dependence (45), and addressing climate change.
Policy priority
Malaysia is focused on improving livelihoods for farmers and increasing yields and productivity such as in the Northern Corridor Economic Region (NCER) (6). Private Sector Partnerships with small holder farmers through pilot projects with MDEC and funding from AgroBank are present (49). Budget 2023 has prioritized digitalization of agriculture to boost food security (5).
Gender inequalities and marginalization issues
Agriculture and food production significantly influence growth, vital for rural areas and smallholder farmers (16). Yet, challenges persist: 56 per cent of workers are non-standard, facing higher retrenchment risks, and over 30 per cent are under protected foreign workers (45). Almost 90 per cent of agricultural establishments are vulnerable SMEs, including 40 per cent micro-enterprises, employing 42 per cent of the sector's workforce (20).
Investment opportunities introduction
Malaysia experienced a 26 per cent growth in Agri-Tech investment from 2014 to 2020 (10), Malaysia's shift from monoculture farming to diversified food crops is accelerated by tech advancements like precision agriculture and CEA. This transition is supported by government incentives for industrial-scale agriculture projects (5).
Key bottlenecks introduction
Structural issues - there is a lack of tailored electricity tariffs for technology-assisted farming practices, which require higher electricity consumption (7, 8). Implementing IoT systems estimated to cost at minimum around USD 10,800 for a 930 sq m farm, can contribute to improved productivity, but costs can be substantial (48).
Agricultural Products
Pipeline Opportunity
Agrometeorological Data Collection And Analytics
Invest in companies that provide agrometeorological data collection and analytics technologies/ These companies offer a range of software, hardware, and services via B2C models for individual farmers, through B2B models for agricultural cooperatives as well as B2G models for government agencies. Revenue is generated from the sale and leasing of technologies and systems, as well as via subscription-based models, and charging for consulting and other value-added services. Examples of companies active in this space are:
METOS Pessl Instruments provides agrometeorological solutions for farmers, researchers, and agribusinesses. The METOS weather station has sensors to collect real-time weather data including temperature, humidity and wind speed. They offer other solutions including soil moisture sensors. Holding company Pessl Instruments GmbH has raised a total of c USD 976,000 to date (20).
Avirtech offers advanced aerial imaging and remote sensing solutions. Their Aviro Drone generates aerial footage and carries out topographical mapping. Their products also include drones for precision spraying, communication nodes and cloud-based platforms to process, store, and analyze data. Avirtech was awarded the Global Testbed Incentives from MDEC and Iskandar Investment Berhad (50).
Singularity Aerotech Asia specializes in IoT and Big Data Analytics. Their platform SM4RT TANI offers weather, water and soil monitoring, incorporating predictive analytics. Their complementary Urus Tani product is a digital farm management platform that manages inventory and farm operations. As of 2021, SM4RT TANI onboarded 10 farms across peninsular Malaysia (44, 51).
Business Case
Market Size and Environment
> USD 1 billion
< 5%
The agricultural products market was valued at USD 20.81 billion and is expected to yield a 0.6 per cent CAGR between 2020 and 2025 (29).
In total, the Malaysian agricultural sector employs 1.86 million people (17).
In 2021, Malaysia's gross output value stood at USD 22.92 billion, with its agricultural trade value standing at USD 59.4 billion.
Indicative Return
20% - 25%
Cost savings and yield increases were highlighted as a better means measuring indicative return.
Expert stakeholders have highlighted cost savings and yield increases as an indicator of return. This is particularly in the case of pesticide and fertilizer spray, where more unpredictable climate patterns mean a higher degree of spray wash-off, which translates into more penetration by pests.
Expert stakeholders have highlighted that there is no one-size fits all solution. Factors such as crop type, soil condition etc. will impact how long it will take to generate returns and what those returns may look like.
According to projects undertaken by the e-Ladang scheme by the Malaysian government, across cash crops and other food stuffs such as pineapples and chilies, productivity and income increased by 20 per cent, while operating costs declined by 30 per cent.
In the case of chilies, the usage of data analytics technologies resulted in Grade A Chili (USD 1.99 per kg) to 90 per cent of total output, from 70 per cent previously, according to expert stakeholders.
For rice, Smart Farm Agriculture announced that as of July 2022, revenue from a rice cultivation project in Selangor would yield USD 6.63 million revenue year. Yield targets are 2.5 tonnes per hectare (26).
2022 Median net IRRs for APAC PE funds stood at 15 per cent, with top quartile funds registering a net median IRR of 25 per cent. In 2020, IRRs in Southeast Asia based deals stood at 21.44 per cent (18, 19).
Investment Timeframe
Short Term (0–5 years)
Expert stakeholders have highlighted that there is no one-size fits all solution. Factors such as crop type, soil condition etc. will impact how long it will take to generate returns. For example, crops with shorter growth cycles will be more short term in nature, such as rice, green vegetables etc. The relationship between the quality of produce and its growing environment can be quickly defined within the space of a year.
For agricultural subsectors that are relevant for just transitions such as commodity produce i.e., oil palm, yields can sometimes manifest at only 3 years in age.
Ticket Size
USD 500,000 - USD 1 million
Market Risks & Scale Obstacles
Capital - Requires Subsidy
Business - Business Model Unproven
Impact Case
Sustainable Development Need
Over 2019-2021, the food insecurity prevalence in Malaysia was 15.4 per cent, representing 5 million people, and 800,000 people were estimated to be undernourished (31). National self-sufficiency in fruit and vegetable supply was 78.2 per cent and 44.6 per cent respectively in 2019 (2).
80 per cent of Malaysian farmers reported having unsustainable practices, including excessive pesticides use. Such agricultural practices substantially harm soil, biodiversity, rendering agricultural land infertile in the medium to long term (2, 33).
Agricultural yields are decreasing due to climate change and the smallholders' productivity (the majority of agricultural workforce in Malaysia) remains low whereas food demand is growing, reaching 12.297 million tones in 2020 with an agrifood production of 10.532 million tones (2).
Gender & Marginalisation
In Malaysia, less than 10 per cent of total female employment is in the agricultural sector (6.54 per cent in 2017). Female smallholders' products are often at the bottom of the supply chain, being sold below fair value. Women constitute only 12-13 per cent of agricultural landowners (35, 36).
Small-scale farmers from remote areas, such as Sabah, often do not have access to the bigger markets located in urban areas (35). Additionally, digitalization of the sector, especially of smallholders, remains low, due to lack of appropriate financing and knowledge transfer (1, 2, 31).
Expected Development Outcome
More predictable and efficient production enabled by smart agriculture contributes to the food security and self-sufficiency of the country (goal to reach 83 per cent and 79 per cent of self-sufficiency in supply of fruit and vegetables respectively by 2030) (2).
Precision agriculture solutions can improve the yield, supporting a raise in production outputs, thus contributing to increased farmers' income. For example, a study conducted on rice cultivation found that net income per hectare increased from RM 1,109 to RM 1,333 - USD 242.7 to USD 291.7 (2, 32).
Smart agriculture, such as better meteorological data analysis, enables a more rational and controlled use of resources, and lower GHG emissions, contributing to more sustainable agricultural practices (33).
Gender & Marginalisation
By enabling better yield with lower production prices and better-quality products (33), smart agriculture solutions can support economic empowerment of female farmers and workers in the agricultural sector.
With the deployment of affordable Agri-Tech solutions, smallholder farmers can optimize their production volume and value creation through increased product quality using data driven decision making (2, 41).
Primary SDGs addressed
2.1.2 Prevalence of moderate or severe food insecurity in the population, based on the Food Insecurity Experience Scale (FIES)
2.2.1 Prevalence of stunting (height for age <-2 standard deviation from the median of the World Health Organization (WHO) Child Growth Standards) among children under 5 years of age
15.4 per cent of the population in 2020 (37).
20.9 per cent of the population in 2020 (37).
8.5.1 Average hourly earnings of employees, by sex, age, occupation and persons with disabilities
In 2020, RM 16/hour (approximately USD 4) (37).
15.3.1 Proportion of land that is degraded over total land area
15.22 per cent of land in 2019 (37).
Secondary SDGs addressed
Directly impacted stakeholders
People
Gender inequality and/or marginalization
Planet
Corporates
Public sector
Indirectly impacted stakeholders
People
Gender inequality and/or marginalization
Planet
Corporates
Public sector
Outcome Risks
If the affordability of the technology is not considered, farmers groups needing the solutions the most, such as smallholders, might not be able to adopt these solutions.
Gender inequality and/or marginalization risk: Smallholder farmers may continue to remain marginalized if capacity-building measures and affordable price focus are not built into the business model.
Impact Risks
External risk due to the volatility of the international market prices for agricultural commodities and currency depreciation (38).
Lack of capacity-building efforts scaffolding business models in this space might cause execution risk because of issues in understanding or data usage.
Stakeholder participation risk may occur due to a lack of perceived utility by farmers, the reliance on conventional agricultural practices and the adoption costs high for smallholders (28, 27).
Impact Classification
What
Agrometeorological data collection and analytics enable more sustainable and efficient production, contribute to greater food security and self-sufficiency and increase farmers' revenues.
Who
Farmers, particularly smallholders, people working in the field of agrometeorological data collection and analytics.
Risk
The volatility of agricultural prices causing external risk, lack of knowledge transfer, stakeholder participation risk due to high prices, and lack of perceived utility.
Contribution
Increased yields can contribute to the achievement of the 2.9 per cent food trade balance objective (compared to -6.7 per cent in 2019) and greater food security through increased self-sufficiency (2).
How Much
It was estimated that food shortage could cost USD 987.3 million by 2065 and curbing this supply gap is an important objective of investments in this space (39).
Impact Thesis
Increase food security and self-sufficiency, optimize the use of resources and enhance sustainable agriculture through technology usage, to increase farmers' income and the agricultural sector's share of GDP.
Enabling Environment
Policy Environment
MyDigital: the policy identifies agricultural sector digitalization as one of the drivers for economic development and targets a 30 per cent uplift in labor productivity across all agricultural sectors (40).
National Agrofood Policy (2021-2030): the policy aims at modernizing the agricultural sector through greater adoption of smart agriculture solutions, with the aim of developing a sustainable and resilient agrifood sector (2).
Fourth Industrial Revolution Policy: the policy sets a target of 55 per cent improvement of productivity in the agrifood sector, through the enhanced adoption of technological tools by the sector (30).
Nationally Determined Contribution (2021): agriculture is part of Malaysia's climate change action. The sector is mentioned by the report as one of the areas where Malaysia is taking key mitigation and adaptation actions to reduce GHG emissions and achieve the 45 per cent reduction target (42).
Industry4WRD Policy on Industry 4.0: The policy intends to support companies' digital transformation in manufacturing sector through incentives and support for infrastructure, human capital and technology development. Enterprise Intelligence and Automation list among 21 main policy dimensions (52)
Malaysia Madani: The Malaysia Madani plan has six main principles including Innovation and Sustainability, with aspirations of strengthening MSME resilience and prioritizing food security (53)
Financial Environment
Financial incentives: Agrobank offers financing schemes to apply smart farming measures, in line with the adoption of IR4.0, in collaboration with MTDC. The Funding has been extended to 200 entrepreneurs (RM 20 million or USD 5 million) (24).
Financial incentives: Agrobank's Green Financing portfolio is 5.8 per cent of total portfolio, and they are aiming to expand this portfolio share. Companies/projects adopting eco-friendly, and SMART farming practices to be classified under myGAP, therefore eligible for Green Activity Financing (24).
Financial incentives: Microfinancing programmes such as MDEC-CIMB Islamic MOU to extend the financing to catalyze digital Agri-Tech, up to providing USD 5.51 million in financial assistance/incentives to facilitate the widespread adoption of digital Agri-Tech solutions (25).
Regulatory Environment
National Land Code 1965: regulates the land and land tenure, as well as the land property and registration process (34).
Guideline on Acquisition of Properties: regulates the acquisition of land and prohibits a ‘foreign interest’ (including foreign entities and individuals) to acquire, among other things, properties (including agricultural land) valued at less than RM 1 million (USD 216,520) (34).
Marketplace Participants
Private Sector
METOS Pessl Instruments; Avirtech; Singularity Aerotech Asia; Tanalink; Fefifo; plantOS; Braintree Technologies; Greenyield.
Government
Malaysian Meteorological Department (MetMalaysia); Ministry of Agriculture and Food Security (MAFS); Ministry of Science Technology and Innovation (MOSTI); Ministry of Natural Resources, Environment and Climate Change (KeTSA).
Multilaterals
United Nations Development Programme (UNDP); World Bank; Food and Agriculture Organization of the United Nations (FAO); International Fund for Agricultural Development (IFAD); Global Environment Facility (GEF).
Non-Profit
Malaysian Agricultural Research and Development Institute (MARDI); Malaysian CropLife and Public Health Association (MCPA); Malaysian Agricultural and Horticultural Supplies Association (MAHSA); Malaysian National Farmers' Organization (NASH); Malaysian Fertilizer Association (MFA).
Public-Private Partnership
Malaysia Digital Economy Corporation (MDEC); Malaysia Technology Development Corporation (MTDC); Malaysian Global Innovation & Creativity Centre (MaGIC); Malaysian Industry-Government Group for High Technology (MIGHT).
Target Locations
Malaysia: Kelantan
Malaysia: Kedah
Malaysia: Perlis
Malaysia: Johor
Malaysia: Sabah
References
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