The Danish Ministry for Food, Agriculture and Fisheries has announced it will be investing DKK 675 million (£75.7M) into a newly created Plantefonden – or Plant Fund.
The fund will be active until 2030, with money going exclusively to plant-based foods.
The news comes less than six months after the Government announced it was investing DKK 1.25 billion into plant-based research and production.
The Danish Plant-based Business Association will hold a space on the board of the Plant Fund. The organisation currently has 68 member companies, including well-known brands like Naturli, Nestlé and Oatly.
“We are incredibly proud of an honoured by this,” Danish Plant-based Business Association Head of Secretariat Frederik Madsen commented.
“The industry’s Achilles’ heel is that the market is too small, and therefore we will work to ensure that the fund’s funds are primarily used for market development.”
According to the Ministry, the Plant Fund is a central initiative which is supported by all but one of the country’s main political parties.
It is in keeping with the country’s ambitious Agricultural Agreement, which it hopes will transform the food production landscape. Some 60% of Denmark’s land is used for agriculture, and of this, 70% is used to grow feed for animals.
“This means that the vast majority of the crops grown must go through a cow, a pig or another farm animal before they end up as food in the refrigerated counter,” a Ministry for Food, Agriculture and Fisheries spokesperson commented.
Additionally, canned ham and pork remain one of the country’s biggest exports.
As a result, the agreement is encouraging a dramatic turn away from business as usual. As the Plant Fund proves, one of the targets of the plan is to capitalise on the climate benefits and food security associated with plant-based eating.
Other elements include investment for protein-rich crops and a taskforce for vertical agriculture.
Minister for Food, Agriculture and Fisheries, Rasmus Prehn, said: “Climate bells have been ringing for a long time. We must and must do something about our food production if we are to achieve the goal of the green transition.
“Therefore, Denmark must lead when it comes to plant-based foods… There is both a market in mass development and a great climate gain to be had if we in Denmark start to produce more plant-based foods.
“Never has so much money been spent on plant-based foods as there will be with the Plant Fund.”