Part 7/10:
Despite technological advancements, the economics of vertical farming remain a challenge. Building a farm costs around $10 million, and scaling up is necessary to achieve economies of scale, which can significantly lower costs per square meter of grow space.
Jones’s experience indicates that as they expand, the cost of production decreases, bringing vertical farm products closer in price to imported goods. In fact, some vertical farm products are already being sold at prices comparable to imported produce to major retailers, suggesting that price parity is within reach.