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Crystal
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SALES of crystals in Yangon have steadily decreased since the
market boom of the early to mid 1990s, said dealers at Bogyoke
Aung San Market last week.
The main reasons for the decrease include the short supply of
crystals on the market, higher prices and fewer buyers, said Ko
Myat Toe of Crystal Hunter, a crystal wholesaler at the market.
“Our buying prices get higher year after year but the selling
prices have not risen because foreign buyers will not pay the
higher prices,” he said.
He said most of the buyers are from the United States, China
and Thailand, and most of them are mineralogists and gemmologists
who buy the crystals to add to their collections or for use at
gem training schools.
Some of his customers are local dealers who resell the crystals
to foreign buyers and to geology students, he said.
Ko Myat Toe said there are only about 35 crystal traders in Myanmar
and the market is very small.
Another representative from Crystal Hunter, Ko Myo Myint Oo,
said the market started to decline following the September 11,
2001, terrorist attacks on the US.
“Many of our regular buyers have not come in since then,”
he said.
In Myanmar, crystals are produced in Mogok – home of the
world’s finest rubies – and Thebaik Kyin in Mandalay
Division, Momeik and Mongshu in Shan State, and Namyarseik in
Kachin State.
Ko Phyo, the owner of Rocky Gem Shop in Yangon, said crystal
sales have dropped because of a lack of direct foreign buyers.
Even though there are local buyers in the market, they resell
to foreign countries, he said.
“We do not have new buyers,” he said.
Ko Sunil, a crystal shop owner, also agreed.
“Our main customers are foreign buyers and local gemmological
students, but these days there are fewer foreign buyers coming
to Myanmar,” he said.
Professor Hla Kyi of Dagon University’s Geology Department
said that crystals are bought by gemstone collectors and geologists.
The market was very good when the market emerged in the 1990s,
but it slowed down within three or four years, he said.
