Now in its fifth generation, Hong Kong-based Wing Hing Trading Co specialises in fei cui jewellery making. The company sources fei cui raw materials directly from Myanmar and carries out all production procedures including cutting, carving, polishing and design in their factories in Pingzhou, Sihui and Guangzhou. Products are mainly exported to jewellers and designer brands around the globe. The family’s fourth generation operator Cheung Yiu Chuen told Hong Kong Jewellery that they mainly target the international market, offering unique fei cui jewellery at affordable prices in various designs, combined with overseas elements and craftsmanship to add value to the jewellery.
According to him, many overseas jewellers want to go beyond the design materials they used in the past such as diamond, ruby and sapphire, and choose innovative materials with an oriental touch. As a result, fei cui has become their new favourite. “Fei cui is versatile and suitable for carving into different shapes, thick or thin, openwork or three-dimensional, so it has been well accepted by foreign customers,” he said. Driven by the demand from international markets, many domestic buyers are following the trend by using fei cui as a jewellery material. Hence, under the current economic downturn, the company still achieves good sales.
Cheung Yiu Chuen revealed that the mid- to high-end fei cui market has been impacted mostly by the economy. Customers of this market segment have been more price-sensitive with weak purchasing sentiment, resulting in a decline of rough price at this range. In general, fei cui market is in a weak situation. He also noted that the rough supply at Myanmar Gems Emporium has decreased because of the unsatisfactory market condition. Some suppliers have closed their mines in order to reduce costs. They also have stocked up with high-quality rough stones to wait for price increase in the future.
The 53rd Myanmar Gems Emporium was held from 24 June to 6 July 2016 in Nay Pyi Taw. According to Xinhua News Agency, the auction offered 6,062 jade lots of which 4,771 were sold, and fetched €530 million (or approximately US$710 million), with 4,177 buyers mainly from Myanmar, China, India, Japan, Singapore and Thailand. Participants from Myanmar and China each accounted for around 2,000. A jeweller from Guangdong said that compared with last years’ 5,000 attendees, this time’s number declined owing to the influence of the cooling market.
“The price of mid- and high-end fei cui rough has dropped as suppliers in Myanmar need to handle part of their inventory, while rare rough will not be sold at reduced price as they are always in demand,” Cheung Yiu Chuen expressed. He also predicts that after the boom period several years ago, fei cui market will maintain the current condition in the short term.
Cheung Yiu Chuen holds an optimistic view on the prospect of fei cui market. He thinks that fei cui designs need to follow market trends by using new ideas, going beyond the tradition, and integrating different cultures and craftsmanship to give a sense of individuality. In doing so, fei cui jewellery will be more easily accepted by customers from different regions.
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