Written by admin on January 10, 2014. Posted in News, Top Stories
Hong Kong's jade dealers have been facing the headache as the major supply from their neighbouring Myanmar has been dwindling, according to the International Business Times report.
Li Qi, a jade jewelry owner in Hong Kong told the local news magazine Irrawaddy that the profit for processed jade from Myanmar is 10 times its cost a few years ago.
Following the reduced resources from the country known for its best quality jades, prices for the jade lots are soaring.
According to official figures, Myanmar made USD 34 million revenue from exporting jades while USD 4.3 billion worth jades are illegally flowing into neighboring China, according to the report.
China is the major consumer of Myanmar jades while domestic consumption is too low.
The jade-loving China's consumption has been ever increasing as the prices are also keeping upturn.
http://www.information.myanmaronlinecentre.com/myanmarss-jade-resources-running-out/
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