19 August 2017
Myanmar Pearl Auction 2017 began at Gems Museum in Nay Pyi Taw on Friday. More than 86,000 pearls of 270 pearl lots are auctioned off by Myanmar Pearl Enterprise by open tender system.
Pearl production in Myanmar has seen a steady increase over the years. In 2014-2015, Myanmar Pearl Enterprise collected over 712,000 pearls, almost an increase of 100,000 pearls from the previous year.
Buyer, Khant Hein said “The floor price is fair for the buyers. Quality is lower than the pearls from the previous years. But it’s okay for the local market. Local market demand is getting low as the pearls production is getting higher.”
Pearl expos in June and December of 2016 earned 3.11 million Euros and 1744 million kyats respectively. Myanmar Pearl Enterprise also joins Hong Kong International Gems Emporium every year.
Assistant General Manager, Myanmar Pearl Enterprise, Mya Mya Win said “This is the only place where the traders can get pearls sold by the government. We started selling Myanmar pearls in international market in 2013 and the foreign traders recognize the quality of Myanmar pearls. So, the pearls demand is high in foreign market.”
Myanma Pearl expo has been held in Nay Pyi Taw since 2010. This is the 8th pearl auction which is set to run till the 29th of August. Myanmar Pearl Enterprise has been organizing Pearl expos in local and abroad for 125 times now.