Myanmar jade traders in Mandalay say this could be the worst year ever for business. The main reason for mentioning the absence of Chinese buyers, perhaps nervous about the outcome of the elections next month.
In interviews and October 25 in Maha Aung Myay Jade Trade Center, one after another trader lamented the current fate.
And jade dealer said U Myo Myint profit fell because most of the transactions involved now, after treatment Myanmar, there are very few Chinese traders around.
“It is not trading, but fewer benefits. With Chinese buyers away, traders are losing hundreds of thousands of kyat,” he said.
The jewelry retailer Ku Wi-View can be had if the profit Jade reach into smaller parts, selling tens of thousands of US dollars, instead of putting hundreds of thousands of dollars in the largest piece of jade jewelry crystals.
He said, “I can not sell a piece of jade glassware bought for K600,000 because profits will be all K30,000 or K40,000. But there is a benefit in the cut only sold K30,000”.
Above all, traders are waiting for the return of the good times.
“I think that the lucrative business conditions will return, this will be the worst year,” said one.
The dealer said Crystal Jade Yu Su Thursday, who worked in the trade for six years, jade, crystal bought for K2 million has to be sold to K1.8 million, a big loss.
. “This is the worst year of trading has seen even when the transactions, no gain,” adding, “I think the Chinese traders are waiting to see what will be the new trade Ruili government also down. They come, but do not buy, and then leave.”
Ruili is in the Chinese province of Yunnan on the border with Moses in the Shan State.
He said it is unclear whether the slowdown will be temporary sales Mandalay – Mike Davis, from Global Witness non-governmental organizations – which published a report last week in the jade industry.
The traders say that while the best jade prices remained high quality, and the prices were lower-quality materials more volatile.
Davis said the negotiation of lower grades, and thus may have been affected by this – Industry players say the Mandalay and Ruili are mostly – but not exclusively.
Similarly, sales Store in Nay Pyi Taw this year’s success.
“It seems that the main reason is a new article on deposits that are designed to ensure that providers actually sales presentations successful completion, instead of winning the offer price and then measure the mass market in China and decide whether or not paid,” he said.
However, this could also reflected a broader market conditions of low to medium grade stones – “bread and butter of events mall”