YANGON, Aug. 11 (Xinhua) -- Myanmar is making preparations to hold the first-ever low-grade utility jade exhibition in Nay Pyi Taw later this month to offer opportunity for private gem merchants to purchase such low-grade utility jade in Myanmar currency and resell them as value-added jewelry, sources with the Myanmar Gems Enterprise said on Thursday.

The five-day low-grade utility jade exhibition, organized by Myanmar's Central Committee for Sponsoring Gems Exhibition, is scheduled to take place from Friday to next Tuesday.

Myanmar's jade, gem and pearl exhibition is held three times annually, while the present low-grade quality jade exhibition will be held twice during the prior ones starting from this year, the sources disclosed.

The introduction of the low-grade utility jade exhibition is part of the measures to enable merchants to buy gems in Myanmar currency in addition to buying in foreign exchange with annual events.

Myanmar started to hold gem shows in 1964 selling gems annually. Since introducing the mid-year one in 1992 and the special one in 2004, the gem emporium has now become an event held thrice annually.

The latest official figures show that in 2010-11, Myanmar yielded 46,810 tons of jade and 12.962 million carats of gems which include ruby, sapphire, spinel and peridot, as well as 275, 688 mommis (1,033 kilograms) of pearl.