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Myanmar earns 4.18 mln USD from gems emporium

Xinhua, June 28, 2016 Adjust font size:

Myanmar's just-ended gems emporium has fetched 3.15 million euros (4.18 million U.S. dollars) through sale of gem lots, according to a press release of the emporium on Tuesday.

Of 353 gem lots displayed at the 53rd Myanmar Jade, Gems and Pearl Emporium in Nay Pyi Taw which ended on Monday, 34 lots were sold through tender system while 26 lots found buyers by auction.

Despite the number of lots sold during the emporium, it had a lower turn-out compared with last year. The emporium fetched a good price as there was no significant difference in the earning, an official report quoted the emporium organizing committee as saying.

Recently, the value of cut and uncut jade products within Myanmar's gem and jewelry industry has depreciated in value by about 40 percent, according to local jade market survey.

The emporium, which started from last Friday, attracted 1,733 local and 2,064 foreign gem merchants who are from China, India, Japan, Singapore and Thailand.

Myanmar started holding Gem and Jade Emporium in 1964. Endit