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September 22, 2018

Pearls fetch over 2.5 mln euros at 55th Myanma Gems Emporium

Jade merchants viewing pieces of jade at the Myanma Gems Emporium in Nay Pyi Taw yesterday. 
photo: mna

Three-hundred forty-one lots of pearls fetched over 2.5 million euros yesterday at the 55th Myanma Gems Emporium in Nay Pyi Taw.
All 360 pear lots exhibited yesterday with basic price of 500 euros and above for each lot were bought by traders.
A pearl lot with 524 pearls weighing 433.85 momme fetched the highest price of 32,999 euros and a pearl lot with 67 pearls weighing 30.30 momme fetched the lowest price of 788 euros at yesterday’s sales, according to Daw Mya Mya Win, Assistant General Manager of the Myanma Pearl Enterprise.
Myanmar held annual pearl sales six times in Hong Kong and pearls produced by pearl farms in Taninthayi Region have found a strong market there, added Daw Mya Mya Win.
The second day of the 55th Myanma Gems Emporium was continued in Mani Yadana Jade Hall, Nay Pyi Taw yesterday where 360 pearl lots, 336 gem lots and 6,795 jade lots totaling 7,490 lots were on display.
Over 4,000 local and international gem merchants attended the second day of the emporium.
U Than Zaw Oo of the exhibition department said the event was held to gather local gem merchants, especially buyers and sellers, in a single place. At this emporium, over 500 companies and license holders exhibited jade lots. At the moment there are more than 1,200 registered local gem merchants, both buyers and sellers, in the country.
There are over 3,000 foreign gem merchants. Yesterday, about 2,500 entered the emporium and inspected the jade lots.
The benefits for both buyers and sellers is the possibility to see at one place up to 6,000 jade and gem lots.
Normally it would be difficult to round up 4 to 5 gem merchants to inspect 4, 5 or 10 lots, said U Than Zaw Oo.
In normal sales outside, there are limitations to declaring the sale price and paying tax. At the exhibition, full tax according to set rates goes into the state coffer and the seller received the remaining sales amount, added U Than Zaw Oo.
The third day of the 55th Myanma Gems Emporium will continue in Mani Yadana Jade Hall today, where jade and gem lots will be inspected and sold under an open tender system.

 

Kyaw Thu Htet (MNA)

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