Myanmar earns $2.4b from gems

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gems1The annual jewelry event Myanmar Gems Emporium has fetched $2.4 billion in sales from rubies and jade, Xinhua reported on August 8.

The sum is a new record and more than triple the yield of the previous event in 2012, which just brought in just $702.66 million. The two-week event held in the second half of June took place at Maniyadana Jade Hall and Myanmar Gems Museum in Naypyitaw, Myanamr’s  capital. Nearly 4,000 foreign gems merchants and more than 4,000 locals participated, according to the report.

Out of more than 10,000 jade lots, 300 gem lots and 200 pearl lots for sale at the event, more than 8,000 jade lots, 100 gem lots and almost all pearl lots were sold.

Myanmar started to hold gem shows in 1964 selling gems annually. Since introducing the mid-year show in 1992 and the special show in 2004, the gem emporium has now become a thrice event annually.

Since 1992, private companies have been allowed to work for jade and gems mining, and in 1995, the Myanmar Gems Law was promulgated, allowing local citizens to excavate, produce and sell gems.

Again since 1997, local citizens have been allowed to buy gems, so the sale of jade and gems had been on the increase.

The latest official figures show that in 2011-12, Myanmar yielded 43,185 tonnes of jade and 13.398 million carats of gems which include ruby, sapphire, spinel and peridot, as well as 1,091 kilogrammes of pearl.

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Reading Time: 1 minute

The annual jewelry event Myanmar Gems Emporium has fetched $2.4 billion in sales from rubies and jade, Xinhua reported on August 8.

Reading Time: 1 minute

gems1The annual jewelry event Myanmar Gems Emporium has fetched $2.4 billion in sales from rubies and jade, Xinhua reported on August 8.

The sum is a new record and more than triple the yield of the previous event in 2012, which just brought in just $702.66 million. The two-week event held in the second half of June took place at Maniyadana Jade Hall and Myanmar Gems Museum in Naypyitaw, Myanamr’s  capital. Nearly 4,000 foreign gems merchants and more than 4,000 locals participated, according to the report.

Out of more than 10,000 jade lots, 300 gem lots and 200 pearl lots for sale at the event, more than 8,000 jade lots, 100 gem lots and almost all pearl lots were sold.

Myanmar started to hold gem shows in 1964 selling gems annually. Since introducing the mid-year show in 1992 and the special show in 2004, the gem emporium has now become a thrice event annually.

Since 1992, private companies have been allowed to work for jade and gems mining, and in 1995, the Myanmar Gems Law was promulgated, allowing local citizens to excavate, produce and sell gems.

Again since 1997, local citizens have been allowed to buy gems, so the sale of jade and gems had been on the increase.

The latest official figures show that in 2011-12, Myanmar yielded 43,185 tonnes of jade and 13.398 million carats of gems which include ruby, sapphire, spinel and peridot, as well as 1,091 kilogrammes of pearl.

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