CJ Feed Myanmar, a major player in the country's animal feed and broiler chicken production, has announced a temporary suspension of its operations citing current economic challenges.

The company highlighted several factors impacting their business, including difficulties in sales and trading activities, increased costs of raw materials, challenges in obtaining raw materials and insufficient workforce for production.

Due to these "unavoidable circumstances," CJ Feed Myanmar will halt the production and sales of animal feed and broiler chickens starting May 28.

To ensure a smooth transition, the company has requested its sales representatives and customers to settle any outstanding payments by June 28. They expressed their appreciation for the continued collaboration.

CJ Feed Myanmar, a Korean-owned company, operates a factory in Yangon's Myaungdaga Industrial Zone. They produce and distribute feed for various livestock, including chicken, pig, duck, and fish. Their broiler chickens were sold across several regions in Myanmar, including Mandalay, Bago, Yangon, and Ayeyawady.

This suspension comes after over seven years of operation, following their market entry in 2017 with an investment exceeding US$21 million.