Myanmar Jadeite Rough Supply Continues to Tighten, High-End Market Prices Reach New Peaks
【Yangon/Beijing】 The global jadeite market has once again focused on Myanmar recently. According to internal industry sources and market monitoring data, affected by the continuous tightening of supply from the origin, the price of jadeite rough showed a significant upward trend in March 2024. This was particularly evident in high-quality ice-jade and glass-jade varieties, which saw the most substantial increases, while the prices of mid-to-low-end products remained relatively stable despite some fluctuations. This trend not only reflects the inherent value of jadeite as a scarce resource but also signals a further heating up of the high-end jadeite collection and investment market in the future.
Supply-Side Pressure Persists, Scarcity of High-End Rough Highlights
Since the adjustment of mining policies in Myanmar's jadeite mining areas, especially with the superimposed effects of geopolitical and environmental factors in recent years, the extraction and export of jadeite rough have faced numerous challenges. According to incomplete statistics, Myanmar's jadeite rough exports in 2023 decreased by approximately 15% compared to the previous year, with a more pronounced decline of over 20% for high-quality rough. Entering 2024, this tightening supply situation has not eased. Industry insiders point out that the strict control of mining operations by the Myanmar government and the suspension of operations in some mining areas due to safety concerns are the main reasons for the continuous shrinkage in supply.
“The formation of high-quality jadeite rough requires extremely harsh geological conditions and a long geological period; its scarcity is inherent,” said Professor Li Ming (pseudonym), a distinguished professor at the School of Gemology, China University of Geosciences (Wuhan) and a renowned gemologist, in an interview with our newspaper. “Many of the high-end rough on the market today are inventories mined years ago, with fewer and fewer new high-quality outputs. This imbalance between supply and demand is the fundamental driving force behind its price increase.”
Market Data Reveals: Ice-Jade, Glass-Jade Lead Gains, Mid-to-Low-End Stable
According to the latest data released by market research firm “Jadeite Think Tank,” in March, the average price of ice-jade and glass-jade rough increased by approximately 8% to 12% month-on-month, with some top-grade materials experiencing gains of over 15%. For example, a top-grade ice-jade with vibrant green color, weighing around 1 kilogram, has an estimated market value exceeding ten million RMB. In contrast, the price fluctuations of mid-to-low-end jadeite rough, such as glutinous-jade and bean-jade, were relatively small, with average increases maintained between 2% and 5%, and some ordinary rough even saw slight price adjustments.
“This indicates that the market's enthusiasm for high-end jadeite remains strong, and even in the context of tight supply, its investment and collection value is further magnified,” analyzed Mr. Wang, a veteran jadeite trader. “However, the mid-to-low-end market is more influenced by consumer spending power and market sentiment, with prices behaving relatively rationally.”
Industry Outlook: Enhanced Investment Attributes, Risks and Opportunities Coexist
As global economic uncertainties increase and inflationary pressures persist, rare gemstones, including jadeite, are gradually becoming a preferred choice for high-net-worth individuals to hedge risks and preserve or increase asset value. The cultural attributes and artistic value of jadeite also add to its unique appeal.
However, investing in jadeite is not without risks. Professor Li Ming reminded investors: “The market contains speculative elements, and blindly following trends is not advisable. Investors should possess professional identification knowledge or seek assistance from reliable professional institutions to avoid purchasing products of inconsistent quality or with flaws. At the same time, paying attention to changes in origin policies and international market dynamics is crucial for controlling investment risks.”
Looking ahead, the industry generally believes that the tight supply of Myanmar jadeite rough is unlikely to fundamentally change in the short term, and the prices of high-end jadeite are expected to remain strong. However, as market enthusiasm grows, how to regulate trading practices, combat counterfeiting, and protect consumer rights will be important issues that the entire industry needs to jointly address. Concurrently, the application of technology in jadeite identification and traceability will also inject new vitality into the healthy development of the industry.
(This report was compiled by our reporter based on market research and expert interviews.)