Jade export earnings in over five months of this fiscal year have fallen by over US$540 million compared to the same period of last year, said Khin Maung Lwin, assistant permanent secretary of the Ministry of Commerce.

He cited the reason for having hold few jade emporiums.  

Jade export value from October 1 to March 1 in the current 2018-2019 FY amounted to US$0.049 million while the same period of last year hit US$547.153 million, causing a decrease of US$547 million.  

"The main reason is our failure to hold jade emporiums. The more jade sales we hold, the more money we earn. With few sales, our income has reduced," said Khin Maung Lwin.

The 56th Myanmar Gems Emporium was held on March 11 at Maniyadana Jade Hall in Nay Pyi Taw, attended by Vice President Henry Van Thio.

At the emporium, jade lots (from No.1 to No.1,200) will be put on sale on March 15, jade lots (from No.1,201 to 2,400) on March 16, jade lots (from No.2,401 to No.3,600) on March 17, jade lots (from 3,601 to No.4,800) on March 18, jade lots (from No.4,801 to No.6,000) on March 19 and jade lots (from No.6,001 to No.6,974) on March 20), according to the March 12 issues of state-run newspapers.

Sales will be held under open tender system. Moreover, 500 gems lots will be sold on March 14 and pearl lots (from No.1 to No.182) on March 12 under open tender system.

For uncut jade lots, floor price is 5,000 euro and above; for finished jade products and pearl lots, 1,000 euro and above; and for gems 500 euro and above.

Special commodity tax is 15 percent for uncut jade, 10 percent for uncut gems and 3 percent for jewels and 1 percent for finished gems products.