Business case for large scale crop production in greenhouse facilities in Iceland for the global market

Iceland has unique conditions and natural resources that potentially allow a very sustainable production of food for export to the world. The present work has analyzed the technology required, the costs and the potential markets that could benefit from this export. Results indicate possible feasible business cases for vegetables and high value crops if air transport costs can be decreased. For more calory rich crops, such as wheat or rice, protected is not suitable to allow a positive business case. Iceland is still not self sustained for fresh vegetables, so there is room for increased production. This study shows a methodology to analyse crop choice, technology selection and market assessment for proteced cultivation at the example of Iceland. The methodology can be applied at any other region in the world.