Myanmar Jadeite Rough Supply Continues to Tighten, High-End Market Prices Reach New Peaks
【Yangon/Beijing】 The global jadeite market has recently refocused its attention on Myanmar. According to internal industry sources and market monitoring data, due to multiple factors, the supply of Myanmar jadeite rough continues to be tight. Particularly in March, the prices of high-quality jadeite rough showed a significant upward trend, with ice-jade and glass-jade varieties experiencing the most prominent increases, while prices for mid-to-low-end varieties remained relatively stable.
For a long time, Myanmar, as the world's primary source of jadeite, has seen its political stability and mining policy adjustments decisively impact the global jadeite supply chain. Since 2021, a confluence of factors including regional conflicts, mining restrictions, and tightening export policies has led to a noticeable decline in both the extraction and export volumes of Myanmar jadeite rough. Incomplete statistics suggest that the total volume of Myanmar jadeite rough entering the international market has decreased by approximately 20% to 30% compared to pre-pandemic levels. This structural shortage on the supply side is the core driver behind the current price surge.
"The scarcity of high-end jadeite is being further amplified by the market," noted Professor Li Ming, a senior expert from the Gems & Jewelry Trade Association of China and a renowned jade appraiser, in an interview with our newspaper. "High-quality jadeite such as ice-jade and glass-jade requires extremely stringent formation conditions, making their output inherently rare. Against the current backdrop of restricted supply, buyers are willing to pay higher premiums to secure limited premium resources. We anticipate that this 'seller's market' for high-end jadeite will persist for some time."
Data indicates that in March, in major jadeite rough trading markets in Myanmar, the average transaction price for ice-jade and glass-jade rough increased by approximately 8% to 15% month-on-month, with some exceptional top-grade pieces seeing increases of over 20%. While mid-to-low-end jadeite rough, such as glutinous-jade and bean-jade, also experienced some uplift due to overall market sentiment, their price fluctuations were contained within 3% to 5% due to their relatively larger existing stock, demonstrating differentiated market demand for various qualities of jadeite.
From a market demand perspective, despite some downward pressure on the global economy, investment and consumption demand for high-end jadeite in Asia, particularly in mainland China, Hong Kong, and Southeast Asian countries, remains robust. As a rare gemstone possessing artistic, cultural, and investment value, jadeite's characteristics of inflation resistance and value preservation attract significant attention from high-net-worth individuals. Analysts point out that amidst increasing volatility in global financial markets, physical assets, especially highly scarce artworks and jewelry, are becoming preferred options for capital preservation and value appreciation.
Looking ahead, the tight supply situation for Myanmar jadeite rough is unlikely to fundamentally ease in the short term. On one hand, geopolitical factors remain the biggest uncertainty; on the other hand, the Myanmar government's control over mineral resources is becoming increasingly stringent, aiming to enhance resource utilization efficiency and added value, which also implies that rough exports may not return to previous levels. Therefore, industry consensus predicts that prices for high-quality jadeite rough will continue to remain firm, and may even see further increases. For jadeite processing enterprises, effectively controlling raw material costs and enhancing design and processing added value will be key to future competitiveness. For investors and collectors, carefully selecting high-quality, high-potential jadeite remains a worthwhile investment direction.
(Reported by Wang Shi, Yangon/Beijing)