Myanmar Pearl Auction Registers New Record Of Proceed
October 02, 2009

YANGON, Oct 2 (Bernama) -- A recent pearl auction in Myanmar's new capital of Nay Pyi Taw has fetched 798 million Kyats (US$760,000), registering a new highest record of the proceed against 780 million Kyats (US$742,000) in the previous year, according to the State Pearl Production and Trading Enterprise Friday.

In the pearl sale in Nay Pyi Taw late last month, which was the first of its kind held in the country's newly-built gems museum in the new capital, a total of 424 quality pearl lots from 32 domestic private companies were displayed, China's Xinhua news agency reported.

Myanmar's pearl auction used to be held in Yangon, but starting this year the event was launched thrice a year which is designated for May, September and December.

Myanmar cultures about 400,000 units of pearls every year from eight pearl farms in the country with investment from Australia, Japan, Indonesia, the Philippines, China and Thailand, according to reports.

Pearl, along with ruby, diamond, cat's eye, emerald, topaz, sapphire and coral are produced by Myanmar, gaining reputation.

The government's Central Statistical Organisation revealed that in the fiscal year 2008-09, Myanmar produced 32,921 tonnes of jade and 18,728 million carats of gems which include ruby, sapphire, spinel and peridot, as well as 201,081 mommis (754 kilogrammes) of pearl.