Mowi will not invest in land based salmon farming: “unless there is a resource rent tax in Norway”

Stian Olsen

“Things are changing, we have to adapt,” says new Mowi chief Ivan Vindheim.

“We operate with fjord-based salmon, and we will continue to do so. We believe that fjord-based salmon is competitive over other more expensive alternatives such as full land based farming. We will continue to invest our money in fjord-based salmon over land based, unless there is a resource rent tax in Norway. If conditions change, we must adapt,” says Ivan Vindheim during the presentation of Mowi’s annual results on Wednesday morning.

It has been proposed by a committee to the Norwegian tax council to implement a resource rent tax of 44 pct. on natural resources in Norway. This tax would be applied on top of the already exciting company tax which is 22 pct. There has not been a parliamentary majority behind the proposal. The next Parlament elections in Norway is in 2021.

However, Vindheim does not believe Norwegian politicians will introduce a resource rent tax: “They are too wise to take the advice from the council on resource rent tax”.

“If there is a 62 pct. tax, everyone will move to land based,” says Vindheim according to TDN Direkt.

The new CEO finds no need for a strategic review after the predecessor Alf-Helge Aarskog resigned.

“I have worked closely with my predecessor for almost 13 years. Our view on the world is reasonably similar, and the differences we have, we have had for a long time, so you will not notice the difference,” he tells TDN Direkt.

“It’s business as usual, the strategy for us is the same as before,” he says.