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Affected by the present financial disaster in Myanmar, South Korea’s CJ FEED Myanmar introduced that it’ll briefly cease the manufacturing and gross sales of animal feed and chicks in Yangon ranging from Might 28.
Because of the present financial disaster, buying and selling has change into troublesome. The price of uncooked supplies has elevated; he stated he confronted difficulties in acquiring uncooked supplies and inadequate manpower to run the enterprise.
A livestock business entrepreneur advised Radio Free Asia that though the home financial disaster has affected foreign-owned enterprises, home animal feed manufacturing will not be considerably affected.
“Domestically, all entrepreneurs face this enterprise state of affairs. Though CJ FEED has now ceased manufacturing, there are various different feed manufacturing corporations within the nation. So far as the livestock business is worried, this has not but had a huge effect on grain manufacturing.” “
The reopening time of CJ FEED’s Myanmar enterprise has not but been formally introduced.
The South Korea-based CJ FEED Group is affiliated with China, together with Myanmar. Vietnam Indonesia Philippines We have now animal feed manufacturing and breeding operations in 15 nations together with Cambodia.
In keeping with Japan’s Nikkei Group, which studies enterprise info, CJ FEED Myanmar started operations in 2017 with an funding of greater than US$16 million.
All industrial areas throughout the nation solely have electrical energy for 2 hours a day
Industrialists advised Radio Free Asia that since Might 19, all industrial areas throughout Myanmar have solely had electrical energy for 2 hours a day.
He stated that he discovered by means of the related township energy bureaus that every one industrial areas would solely obtain electrical energy for 2 hours from 5 a.m. to 7 a.m.
An industrialist in Yangon advised RFA that with out electrical energy, manufacturing prices might rise and costs might rise when working on diesel.
“I used to be knowledgeable that industrial zones can be given solely at the moment. So now we have to run on diesel. When operating on diesel, the price of manufacturing the completed product can be increased. With such a rise, the worth of products will improve.” It’ll rise much more than earlier than. This can be a state of affairs that every one industrial areas should face.
An official from the Yangon City Electrical energy Bureau advised Radio Free Asia that as a result of lack of energy, manufacturing facility homeowners had been advised to solely provide energy for 2 hours a day to supply water to the economic space.
Common Min Aung Hlaing, Chairman of the Army Council, stated at a Army Council assembly in Nay Pyi Taw on January 27 that energy demand is the most important problem, so we’re working exhausting to acquire adequate energy by 2025.
Greater than a 12 months later, on Might 1, 2024, the Electrical energy Fee of the Ministry of Army Business introduced that though the nation’s electrical energy demand was about 5,500 megawatts, in truth, it may solely produce a median of two,800 megawatts per day, which might solely produce 50% of the electrical energy. .
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