Six companies to export 250 tons of petrified wood to China

19 August


Six companies are preparing to export 250 tons of petrified wood or fossils produced in Mandalay Region to China through the 105-mile Muse gate, according to U Thi Han Tun, the chairman of the Mandalay Region Petrified Wood Entrepreneurs Association. 


“Earlier, there were more than 30 companies exporting petrified wood. But, a mismatch between supply and demand led to a drastic decline in prices. Now, only six companies are engaged in their export,” he said. 


“The fossils market is solely dependent on demand from China. The market has cooled since late 2014. Price manipulation and illegal trade have brought down the number of exporter companies,” he added. 


Myanmar allowed the export of petrified wood in 2012, and China is the only market for it. Higher supply, lack of price regulations, and the conditions in the Chinese market have led to market deterioration after 2014, said U Thi Han Tun. Some traders are exporting fossils through the illegal trade channel, he said.


“The regional government will allow only freight movement within regions. An import-export licence will have to be obtained from the Ministry of Commerce, along with a certificate from the Ministry of Natural Resources and Environmental Conservation. The Mandalay Region Department of Mines has inspected petrified wood from the six proposed companies,” he said. 


“The market will recover with price regulation and control of illegal trade. We have to consider supply against market demand. China’s tariff hike on importation will negatively affect demand as well,” said U Thi Han Tun. 


Petrified wood is found in the central regions of Myanmar — Mandalay, Sagaing, and Magway. Petrified wood mined from Mahlaing and Natogyi townships in Mandalay is of high quality, while Magway and other regions only produce raw materials which can be used for interior decoration.—Khine Set Wai

(Translated by Ei Myat Mon)