Asia: Business

China's Top Feed Producer New Hope Says Business Hurt by Bird Flu

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New Hope Group, China's largest producer of animal feed, said its business has been hit by the bird flu outbreak as poultry consumption has declined in the country's eastern provinces.

"We are facing many pressures as a result of bird flu, one of which is that fewer people are eating chicken, especially in east China," Liu Yonghao, the firm's chairman told reporters, adding that chicken prices have dropped below production cost due to poor demand.

Apart from animal feed, New Hope also produces meat, eggs and dairy products.

(Read More: China's Bird Flu Outbreak Not Cause for Panic: WHO)