Tuesday, July 25, 2017

Pearl emporium generates over 3 million euros

The three-day pearl emporium held in Nay Pyi Taw’s Mani Yadana Jade Hall from July 22 to 24 raised more than 3 million euros (US$3.3 million) by open tender, making it the most successful in years, organisers said.

A woman checks out a string of pearls at a Yangon shop. Photo: StaffA woman checks out a string of pearls at a Yangon shop. Photo: Staff

A total of 342 lots of pearls, 98 percent of the total, were sold, said Daw Mya Mya Win, head of the distribution department of Myanma Pearl Enterprise.

“In terms of money, this event has been much more successful than in previous years,” she said, despite a reduction in the number of bidders.

The highest bidder paid more than 30,000 euros for a pearl lot that set a 7000 euros floor price.

“Several lots with floor prices ranging from 7000 euros to 10,000 euros went for 30,000 euros or more,” said Daw Mya Mya Win.

Traders came from India, Japan, Hong Kong, China, Singapore and Thailand, as well as from Europe and North America.

The were a total of 86 buyers who took part in this year’s emporium, compared to 92 last year, according to officials.

Myanma Pearl Enterprise is a state-owned enterprise and was formed in 1963.

 Translation by

Thiri Min Htun