How Will Norway’s Salmon Tax Impact Supply and Prices?
Norway is the dominant player in the global farmed salmon industry, accounting for approximately 50% of annual global output, and is Europe’s largest supplier. The sector is the second largest contributor to the Norwegian economy behind fossil fuels, receiving record export revenues of NOK 105.8 billion (USD 10.6 billion/EUR 9.7 billion) in 2022, up 30% year-on-year (y-o-y). In September 2022, the Norwegian government revealed plans to introduce a new tax to salmon farms in 2023. The incentive was to ensure that a portion of the value-added profits...
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