October 31, 2016

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8,000 lots of jade to be on display at Gems and Jewellery emporium

 A foreign trader checks jade stones at the mid-year emporium in Nay Pyi Taw last year. Photo: MNA
A foreign trader checks jade stones at the mid-year emporium in Nay Pyi Taw last year. Photo: MNA

Nearly 8,000 jade lots will reportedly be exhibited at the Gems and Jewellery Emporium from 22nd to 29thNovember in Nay Pyi Taw, it is learnt from the Myanmar Gems and Jewellery Entrepreneurs Association.
Companies are currently submitting their jade lots to be on display at the emporium. The accurate number of jade lots, finished gem products and pearl lots are still unknown but an estimate of nearly 8,000 jade lots are likely, officials said.
The rough jade stones will be sold through an open tender system and competitive bidding, it is learnt.
The jade will be sold for between 4,000 to 200,000 euros per item, according to a reserve price in open tender, whereas it will be sold at 200,001 euros and above in competitive bidding.
Nearly 9,000 rough jade lots were exhibited at last year’s emporium, earning 900 million euros, whereas nearly 6,000 jade lots were displayed at the emporium held in June, fetching 520 million euros. — Ko Htet

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