We argue that it is both possible and timely to relax the assumption of anthropocentrism in agricultural and resource economics. We advocate for the incorporation of sentientist principles by including the welfare of sentient animals within the social welfare function. To exemplify this non‐anthropocentric stance, we build on our recent works that incorporate the intrinsic value of farmed animals into food production and consumption. By recognising the externalities affecting animals, we justify the implementation of specific policies, such as a meat tax, which redistributes welfare from consumers and producers to farmed animals. Furthermore, we delve into the quantitative assessment of animal welfare and demonstrate its application to food policy, revealing the substantial economic and welfare impacts at stake. Expanding on our earlier model, we also emphasize the importance of introducing a ‘sentience premium’ within species conservation policies. This additional consideration ensures that the conservation efforts appropriately account for the intrinsic value of sentient beings living in the wild.