More than 7,800 jade lots and 480 gem lots will be sold through the open tender system, at the Mid-year Myanmar Gems Emporium at Maniyadana Jade Hall in Nay Pyi Taw from September 16 to 25, said Min Thu, Chair of Jade Committee and General Manager of Myanma Gems Enterprises. 

“Since 1964, Myanmar has been selling jade and other gems in foreign currencies. This is the 95th gems emporium. A total of 481 gem lots and 7,811 jade lots will be on sale. Gem merchants are allowed to view 481 gem lots From 16 September to 18 and jade lots, from September 16 to 19. Tenders for gem lots will be opened on 19 September. We plan to sell around 1,300 jade lots a day by opening tenders on 20 September,” he added. 

At the mid-year gem emporium, 50 jade lots will be on display by the government, 5,540 lots by 1,531 private companies and cooperatives jewellery shops and 2,221 lots by 53 joint-venture companies. In addition, 323 gem lots will be displayed by the government, 133 lots by 15 private companies and cooperatives jewellery shops and 25 lots by nine joint-venture companies, he said. 

“The floor price of jade lot is 5,000 euro. The price of uncut jade stone is fixed at above 5,000 euro and the price of cut jade stone, at above 1,000 euro. Jade lots include an uncut jade stone lot with the maximum floor price of five million euro. The floor price of gem lots is above 500 euro.  The maximum floor price of gem lot is 355,000 euro,” he continued. 

Last year, there was no gem emporium. Nearly 7,000 gem lots worth over 474 million euro were sold at the 56th Myanma Gems Emporium was held in late March. The gem sale exceeded 474 million euro. Now the total gem sale is expected to hit over 500 million euro.”

Hla Aung, Secretary of the Gem Committee said: “We sell gem lots worth over one million euro at every gem emporium. It is expected that we can sell gem lots worth more than one million euro this emporium.”