Myanmar Pearl Auction (August 2017) successfully accomplished

Myanmar Pearl Auction (August 2017) held by Myanmar Pearl Enterprise, Ministry of Natural Resources and Environmental Conservation was held from August 18 to 20 at Myanma Gems Museum, Nay Pyi Taw. The Auction sold out all the put up 270 pearl lots  having total reserve price  1,230,800 Euro, comprising 86914 pieces of pearl, having 65002.45 momme in weight by open tender system. All the pearl lots sold were State-owned, fetching country’s revenue Euro 2,339,743.

Myanmar has been holding pearl auctions sold by foreign currency since 1964 and 90 auctions were held earning 114.78 million United States Dollars of State’s revenues. Since 2010, Myanmar Pearl Auction has been holding annually in Nay Pyi Taw and this is the eighth Pearl Auction in Nay Pyi Taw.

The auction (August 2017) was attended by 189 pearl customers, from 62 local and foreign pearl companies. The next Myanmar Pearl Auction (2018) is planned to hold in Nay Pyi Taw.