In light of the Norwegian government's proposal for a 40 percent resource tax on Norwegian aquaculture, the world's biggest salmon farmer, Mowi, is canceling its acquisition of 914 metric tons of maximum allowable biomass (MAB) worth NOK 183 million (€17.5 million/$17.2 million).

The government's tax proposal, which could hike the overall taxes on the industry to an estimated 62 percent, means that Mowi can no longer justify the purchase price, the company said in a release to the Oslo Stock Exchange Tuesday.