Myanmar fetched over Ks 59 billion from the sale of 3,500 jade and gem lots at the gem emporium held from January 2 to 7 at Maniyadana Jade Hall in the capital city, Nay Pyi Taw. 

At the six-day gem emporium, 3695 jade lots and 286 gem lots were on sale through the open tender system. A total of 3491 jade lots and nine gem lots were sold out. 

U Thet Khaing, General Manager of Myanma Gems Enterprise said: “In the previous gem emporium, the gem lots worth over Ks 60 billion were sold out. Gem sales were expected to hit around Ks 40 billion due to gem quality. A gem lot with the maximum floor price of Ks 180 million, cannot be sold.”

In the previous gem emporiums, the payment period for the sale of gem lots in local currency was 60 days. Now, Myanma Gems Enterprise has started fixing the 45-day payment period for the sale of gem lots in local currency. The payment period for the sale of gem lots in foreign currency is 60 days. 

“There were tight schedules as we held two gem emporiums in local currency and two in euro. We have reduced the number of payment period to 45 days in order to hold more gem emporiums,” he added. 

Only 2023 gem merchants visited the gem emporium through 1,634 gem merchants registered at the MGE.