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China suspends rice imports from Myanmar after bank freezes

] Chinese merchants have suspended its rice imports from China-Myanmar border after a freeze on bank accounts of merchants, said Than Oo, secretary of Bayintnaung Rice Brokerage Center. “Rice prices remain unchanged as China has suspended rice imports from Myanmar. Rice prices will go up when there are high demands from China. Rice trading is […]

Millers, merchants urge illegal China-bound rice be stanched

The illegal outflow of rice via China’s border routes needs to be addressed through existing policies, regional rice-mill associations and local rice merchants have told the government. The export of rice without licence via Muse and Lwejel regions along the border with China, they said. Many bags of rice are being smuggled out of the […]

Jade sales at 54th Gem Emporium down due to poorer quality

The jade exhibition, which opened on August 2 at the Mani Yadana Jade Hall in Nay Pyi Taw, closed August 11 after raking in €518 million worth of gems sold through an open tender system. A total of 105 out of 326 gem lots were sold for €3.07 million, while 5,092 out of 6,561 jade […]

Ten-day jade show yields €240 million in sales so far

Over 3,400 lots of jade have been sold for a total of €240 million in the first four days of the 54th Gem Emporium in Nay Pyi Taw, Jade Business Community secretary U Min Thu said. The sales figures are 998 jade lots sold on August 6 for €50.48 million, 753 lots sold on August […]

Rubber market back to normal in northern Shan State from the rise of Chinese Yuan

The rubber market has been brought back to normal in Northern Shan State, resulting from a rise in the price of the Chinese Yuan, it is learnt. The price of rubber remained unchanged in 2015 and 2016 at 9,000 Chinese Yuan (CHY). The merchants stored the rubber in September watching the CHY exchange rate. The […]