Wild extraction blamed for declining jade trade

A gem merchant has blamed a decline in the country’s jade market on the wild extraction. Demand is slow in the world market as a direct consequence of excessive extraction, U Than Win of Pwint Kaung Gems Trading said, adding that jade mining has become worse during the transitional period. Of the merchants buying jade […]

Surging kyat closes foreign exchange desks

  Local banks suspended foreign currency exchange services yesterday as the kyat surged in value against the dollar, with financial industry sources variously pointing the finger at political speculation, market rumours and a lack of clear Central Bank policy. The kyat strengthened to K1248 against the dollar yesterday, according to the Central Bank’s rate, after […]

Melon market bounces back

Seesawing melon prices are on the up again, thanks to a combination of falling production and rising demand in advance of the Chinese New Year. Honeydew prices are expected to climb to 5.5 yuan (US$0.88) per kilogram, up from a low of 1 yuan at the beginning of the year, say officials from the Myanmar […]