Query related to for i in `cat $TEMP_DIR/country.txt

Shell Programming and Scripting
1

The file country.txt contains
$ cat country.txt
|ORG MU|
|ORG OM|

WHen in script, I wrote this
for i in `cat $TEMP_DIR/country.txt`

It doesnot read the country file first line followed by next line

Instaed it reads as |ORG in first loop and then reads MU| in next loop

I want the for loop to read the contents as |ORG MU| in 1st loop followed by |ORG OM| in next loop

Please suggest any ideas

Thanks in advance

2 
while read line
do
echo "$line"
done < $TEMP_DIR/country.txt