Myanmar: Lower Supplies Affect Annual Gems Sales in Myanmar

Jun 26, 2014 | May Wong, Channel NewsAsia
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NAY PYI TAW: At Myanmar's only annual gems fair in Nay Pyi Taw, sales are expected to hit US$1.5 billion this year, down from US$2.4 billion last year, due to lower supplies.

But the Myanmar government is planning to let an undisclosed number of jade mines in the northern state of Kachin restart production before the end of the year.

Mines in Kachin state have been closed for two years due to conflicts between the military government and ethnic armed groups.

Channel NewsAsia visited the Myanmar Gems Emporium to find out how the reopening of jade mines could affect the price and supply of the much coveted gem.