Kristian Ellingsen, CFO of Mowi, the world's biggest salmon farming company, said the company will fight the Norwegian government's new tax proposal, which sent shockwaves through the industry earlier this week.

"A 43-page document landed on our desk yesterday, totally out of the blue," Ellingsen said during his presentation at the IntraFish Investor Forum in London.

He said the proposal is the biggest regulatory change the seafood sector has seen, and it abandoned an earlier 2019 settlement when this issue was previously discussed.