Tahiti News: Tahitian Pearls Economy Collapse due to this health Crisis

The price of the Tahitian pearl collapses

It's a bad 2020 year for the Tahitian pearl . Pearl farmers are struggling to sell and making them unable to produce. As a result, the price of the pearl collapses by 30%, almost a record. And it is the entire Polynesian market that is impacted. The economic crisis pushes jewelers to cut prices however farmers are more at lost.

Although it is an industry that is not common yet around the world, but it is one of the industry that was harshly impacted during this crisis.

Some pearl farmers are still doing quite well, but the lack of cohesion of the profession penalizes others. “We have never reached that price in the past. For us it was predictable because since the start of this covid, there have been no buyers. All flights are closed, buyers have not come, explains Georges Mataoa, pearl farmer. We produce, it has a cost. And after a while, we have to find the money to pay for all the production work. And if we can't find buyers at the price where we wanted to sell it, well some are tempted to lower their prices… Me, like some farmers, we regrouped behind the GIE Poe of Rikitea. It allowed us to get our heads out of the water a little because we established a partnership with historical buyers in Japan. We were able to export a few pearls for the November sale and it allowed us to have a very good average price given the current situation. "

We hope that the situation get better during 2021 and hope we can keep everyone aboard especially the support of pearl farmer to keep one of the most beautiful pearl on board. 

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