YANGON, Aug. 21 (Xinhua) -- Myanmar sold out almost all available pearl lots on auction over the last three days at a pearl sale which ended at the Myanmar Gems Museum late on Sunday, Myanmar News Agency reported Monday.
This year's state-owned pearl stock was sold out for a total revenue of about 3 million U.S. dollars, the Myanmar Pearl Auction organizer was quoted as saying.
Participated by 62 companies, the pearl auction was organized by the Ministry of Natural Resources and Environmental Conservation and the Myanmar Pearl Enterprise under an open tender system.
Myanmar was renowned for its South Sea pearls in the 1800s when "sea gypsies" dived for natural pearls around 800 islands of the Myeik Archipelago in the far south of the country.
According to statistics, at the last Myanmar open-tender pearl sale in December last year, attended by 110 local merchants, a total of 358 pearl lots out of 406 were sold earning about 1.894 million dollars.
The pearl auction has been held in the country since 1964 for 90 times earning a total revenues of 115 million dollars. Enditem
