Jewellery traders facing cooling market due to COVID-19

The Jade Trading Centre in Mandalay packed.
The Jade Trading Centre in Mandalay packed.

Jewellery traders from the Gems Trading Centre in Maha aungmye Township in Mandalay are concerned over cooling trade on account of COVID-19, according to the Gems Trading Executive Committee.
“The market was expected to recover after the Chinese New Year. However, in my opinion, the market has been operational only 25 per cent even after the Chinese New Year, and in the midst of this situation, COVID-19 broke out around the world, starting from China, and this outbreak has aggravated the general situation. This being so, our local jewellery market has not been spared by this highly infectious disease. Usually, we sell jade to China. Now, Chinese traders are not coming to Myanmar to buy jade,” said U Than Win, chairman of the Mandalay Mahaaungmye Gems Trading Centre.
“Jade sourced for the Mandalay Mahaaungmye Gems Trading Centre is coming mostly from the Phakant area, where local people are carrying out gemstone quarrying, and raw jade and jade stone mining. They are making jade sheets, jade bracelets, and jade rosary beads,” he said.
“The jewellery market has cooled on account of COVID-19. The number of jewellery traders reaching the market has also declined by half. We are seeing only 30 per cent sales in the jewelry market,” said U Myo Myint Naing, a jade trader.
Shops have been opened at the one-storey steel building outside the Mandalay Maha aungmye Gems Trading Centre. Nearly 200,000 people come to the Mandalay Mahaaungmye Gems Trading Centre every season. —Htet Htar Naing (IPRD)(Translated by Hay Mar)

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