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October 18, 2019

Gems Emporium: Over 861 jade lots sold for euros 103.826 mln

The Mid-Year Myanmar Gems Emporium entered its seventh day yesterday, with over 861 jade lots sold for 103.826 million euros through open tenders at the Maniyadana Jade Hall in Nay Pyi Taw.
Jade lot numbers 2612 to 3911 were put on sale yesterday. Gem merchants observed jade lots on display outside the hall, which opened at 8 a.m., and submitted their tenders. In the afternoon, the Deputy Minister for Natural Resources and Environmental Conservation, Dr. Ye Myint Swe, and officials visited the emporium and observed the jade lots and jewelries.
Jade lot numbers 3912 to 5211 will be sold on 23 September, lot numbers 5212 to 6511 on 24 September, and lot numbers 6 512 to 7811 on 25 September. About 1,300 lots will be sold each day under the open tender system.
Jade is a major source of export earnings in Myanmar. Among other countries, China is the largest jade buyer from Myanmar, purchasing nearly 99 per cent of the total jade export. The largest jade trader groups come from China, Hong Kong, Japan, and South Korea to the Gems Emporium in Myanmar, which is held in Nay Pyi Taw twice a year.
The emporium will be held until 25 September. A total of 6,865 merchants from 26 countries were invited to the emporium. — Min Min Zaw (Kalay) (Translated by Alphonsus)

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