Myanmar sees low sales at annual gems fair
Play
Yangon - Myanmar's annual gems sale fetched 533.49 million euros (592 million dollars) in sales of gems, jade and pearls, down from 589 million euros in the previous annual event, official media said Thursday.
The 53rd Myanmar Gems Emporium that ended Wednesday in Nay Pyi Taw attracted 2,979 foreign and local merchants. Among them, 1,866 were Chinese traders, but down from 3,000 last year, according to the state-run Global New Light of Myanmar newspaper.
"It seems the expo is losing interest from Chinese traders because there are not enough lots of jade," said emporium spokesperson Than Zaw Oo.
"Both the quality and quantity of jade are down this year," Than Zaw Oo told dpa by phone.
Myanmar saw a record sale at the 51st annual gems emporium in 2014, earning 3.4 billion dollars.
Myanmar started to hold annual gem sales in 1964.
- DPA
