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 in the Maha Aungmye jewelry market, the Chinese are in the majority.
It is customary in China to present top-quality jade as gifts on special occasions.
“It has nothing to do with the Chinese New Year, but the current trend is a 50% downward swing in the jade market.
Sources: Global New Light Of Myanmar
