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Jade buyers at the Myanmar Gems Emporium sale.



  Burmese gem trade optimistic as record sales recorded at 2013 Gems Emporium


July 14, 2013


Things apparently are looking up for the Burmese gem trade, in part because of a thawing in the political climate. The country's premier sales event, the Myanmar Gems Emporium brought in a record $2.4 billion worth of revenue, more than three times the $702.66 million that was recorded the previous time the event was held.

Starting on June 15, the two-week fair, which was being held for the 50th time, drew buyers to the Maniyadana Jade Hall and Myanmar Gems Museum in Naypyitaw. On offer were more than 10,000 lots of jade, more than 300 lots of colored gemstones, and more than 200 lots of pearls.

Over the course of the fair more than 8,000 jade lots, more than 100 gem lots and almost all the pearl lots were sold. Nearly 4,000 foreign gems merchants attended, and they were joined by more than 4,000 local dealers.

Myanmar held its first gem sales show in 1964, introducing it as an annual event. A mid-year show was added in 1992 and then another in 2004, turning the Myanmar Gems Emporium into an event held three times a year.

But last year only one show was held, mainly because of the suspension of jade mining in Pha-Kant in northernmost Kachin state, as a result of an escalation in the armed conflict between the government forces and the Kachin Independence Army (KIA).

In 2011-12, Myanmar produced 43,185 tons of jade and 13.4 million carats of gemstones, including rubies, sapphires, spinel and peridot, and 1,091 kilograms of pearls.

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