France to pay farmers to grow protein-rich crops

France will pay farmers to grow faba beans and other crops that can add protein to livestock rations as the largest beef producer in Europe seeks to cut its dependence on imported soybeans, where China’s demand threatens supply.

The government will allocate €49m a year to pay a premium for sowing protein sources such as peas or sweet lupine, Agriculture Minister Stephane Le Foll said at a news conference in Paris yesterday.

“We need to develop a plant-protein strategy for France,” Le Foll said. “The flow of protein feed to Asia is becoming greater and greater. For Europe, security of supply is not guaranteed in the long term.”

France grows about 60% of the protein crops eaten by its cows, pigs and poultry, importing the rest, while Europe is about 35% self-sufficient, according to the agriculture ministry. China gobbles up about 60% of global soybean exports, driving up prices, the ministry said.

The EU will import 12.75m metric tons of soybeans and 19.8m tons of soybean meal in the year through September 2015, the US Department of Agriculture predicts.

China may take 74m tons of soybeans, or 66% of global imports, and 50,000 tons of meal, the data show.