€1.3 Million Worth Pearls to be on Display at Exhibition

More than 100,000 pearls worth €1.3 million will be displayed and sold by Myanma Pearl Enterprise in the 53rd Myanmar Jade, Gems and Pearls Emporium this month.

The exhibition will be held at Maniyadanar Jade Hall in the capital Naypyitaw from June 24 to 26.

Approximately 250 series of pearls will be displayed in the exhibition, according to MPE, which is under the Ministry of Mining.

Pearl series are groups of pearls separated by size and quality. Pearls which have same size and quality are regarded as belonging to the same series. Different types of series will have different prices. Each series will contain an average of 384 pearls.

“Setting prices for pearl series will be conducted by a group led by the director general of the Ministry of Mining. The actual price will be determined at the beginning of May. In this exhibition, mid-range quality pearls are a priority to display,” head of sub-department of Distribution and Trade under MPE, Daw Mya Mya Win, told Myanmar Business Today.

Besides state-owned MPE, both local and foreign companies will take part in the exhibition and all the sale unit will be on two systems: tender and bid.

On June 24, visitors can study pearls’ tender and bid series. In the tender series, three tender series will be called on July 25 and 26. The maximum caller will be announced each day. Each tender series includes a total of 100 pearl series: 80 pearl series from MPE and 20 pearl series from private companies.

“Interest in Myanma pearls is getting larger with local people as well. Pearl shops can be seen more and more in Yangon. This is because the local pearl shops won tenders and bids in the exhibition and they resell pearls sometimes as finished products likes jewellery,” owner of Royal Pearl, Ma Pwint Phyu, told Myanmar Business Today.

MPE is going to display high quality pearls in Hong Kong Gem Exhibition in 2017. During last year’s exhibition, 300 pearl series worth €3 million were sold.

 

Source: Myanmar Business Today

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