Myanmar Jadeite Rough Supply Tightens Further, High-End Market Prices Reach New Peaks
【Yangon/Kunming, March 28, 2024】 The global jadeite market has once again focused on Myanmar, as the end of March sees a continued tightening of jadeite rough supply from the country, leading to a general increase in raw stone prices. Particularly, high-quality ice-jade and glass-jade varieties have experienced significant surges, while prices for mid-to-low-end varieties have remained relatively stable.
Industry insiders widely believe that this price increase is not a short-term fluctuation but rather a result of multiple converging factors. The complex political and economic situation within Myanmar, coupled with adjustments in mining policies, are the primary reasons for the sustained tightening of raw material supply. According to incomplete statistics, the total volume of Myanmar jadeite rough entering the Chinese market this quarter has decreased by approximately 15% to 20% year-on-year, with a more pronounced decline in high-quality rough, potentially exceeding 30%.
“The scarcity of high-end jadeite rough is becoming increasingly prominent,” stated Dr. Li Mingde, a renowned jewelry and jade appraisal expert and visiting professor at the Gemology Institute of China University of Geosciences (Wuhan), in an interview with our reporter. “Ice-jade and glass-jade, due to their unique texture and luster, have always been sought after by collectors and high-end consumers. With a reduction in supply, their price increase is an inevitable market reaction. We have observed that the prices of some top-tier ice-jade rough have increased by over 20% in the past three months, with some premium pieces even experiencing a 'price without market' situation.”
Data analysis indicates that while the overall transaction volume in the jadeite rough market saw slight fluctuations this month, the unit prices of high-end rough repeatedly reached new highs. For instance, a small piece of exceptionally fine glass-jade 'Imperial Green' saw its transaction price increase by over 15% compared to the beginning of the year. In contrast, mid-to-low-end jadeite rough, such as common 'dou-zhong' (bean-seed) and 'nuo-zhong' (glutinous-rice) varieties, experienced minor increases, mostly within 5%, and some ordinary quality varieties even remained largely unchanged, with relatively stable market demand.
“This polarized market performance reflects the structural changes in the current jadeite market,” analyzed Mr. Wang Haitao, Secretary-General of the Yunnan Provincial Jewelry and Jade Association. “On one hand, the investment attribute of high-end collectible jadeite is growing, with its value driven by scarcity; on the other hand, mass consumer demand for mid-to-low-end jadeite remains robust, but consumers are more price-sensitive, making it difficult for this segment to experience explosive growth.”
Looking ahead, industry experts generally agree that the tight supply of Myanmar jadeite rough is unlikely to be fundamentally alleviated in the short term. With the gradual recovery of the global economy and the continued growth in demand for jadeite from major consumer markets such as China and Southeast Asia, prices for high-end jadeite are expected to remain strong. However, for the mid-to-low-end market, the crucial challenge for the industry will be how to increase product added value through innovative design and improved craftsmanship amidst limited raw material supply.
“For investors and consumers, professional knowledge in identifying high-quality jadeite is particularly important in the current market environment,” Dr. Li Mingde advised. “At the same time, rational investment and guarding against blind speculation are key to mitigating risks. Industry associations and relevant organizations should also strengthen market supervision to ensure transparency and fairness in transactions, jointly fostering the healthy development of the jadeite market.”
This latest development in jadeite rough prices undoubtedly reminds every link in the global jadeite supply chain, from miners and traders to processors and retailers, to re-evaluate and adjust their strategies to cope with the evolving supply landscape and market demands.
Keywords: Jadeite Rough, Myanmar, Price Increase, Ice-Jade, Glass-Jade, Market Analysis, Supply Tightness, High-End Market