Glut in Low-Grade Jade Dampens Sales for Sixth Straight Year

​​ Expectations for better demand and stronger profits among jade traders in Mandalay fell short in 2017. Weighed down by an oversupply of low-grade and a shortage of top-quality stones, sales have fallen for the sixth consecutive year and a rising number of traders are calling it quits. “We suffered losses as the market was […]

Jade entrepreneurs to request Union government to halt jade mining and export

Jade entrepreneurs have united to submit a signed proposal to the Union Government to suspend jade mining and jade exports with the aim of creating a domestic jade market and promoting the market, said U Than Win from Pwint Kaung jade trading. Over 20,000 jade businessmen from Mandalay, Sagiang and Pharkant signed the proposal and […]

Mandalay trader petitions for mining halt

A Mandalay trader is circulating a petition calling for an immediate but temporary halt to jade mining and a revamp of export procedures, warning the Mandalay market could be headed for disaster if business continues as usual. The petition will shortly be submitted to a Regional and Union-level officials, with its main backer hoping it […]