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Myanmar's Annual Gem Emporium Begins

Buyers will bid on jade, gemstones and pearls.
Mar 9, 2012 3:52 PM   By Jeff Miller
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RAPAPORT... The annual gems emporium opened in Myanmar today in the new capital city of Nay Pyi Taw. Local press expected  6,000 gems traders to visit the show before it closes on March 18. There were  16,697 lots of jade, 227 lots of gemstones  and 367 lots of pearl reportedly being offered through either a tender or  competitive bidding process.

China's Xinhau news agency estimated that the emporium held one year ago, in March 2011, sold some 8,542 lots of jade, gemstones and pearl for proceeds of about $700 million (EUR 533 million).

Myanmar's most recent production for 2011  yielded 46,810 tons of jade, nearly 13 million carats of gemstones and more than 5 million carats of pearl, according to Xinhau.

 

Tags: gemstones, jade, Jeff Miller, Myanmar, sapphire, tender
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