5 Reason on why Tahitian Pearls will be chaotic in 2024

As previously mentioned in earlier blogs, we anticipate a significant rise in the price of tahitian pearls due to the following reasons:

- Tahitian Pearl production has slowed
- Limited Tahitian Pearls available on the worldwide market due to new export regulations
- Increase in demand

1- Current Pearl Price Situation
The local price of pearls has doubled since March 2023. As the demand for these pearls grows, the existing supply has reached its maximum.

2- The local situation
Furthermore, just as the business has been growing, a current problem that requires immediate resolution has appeared.

- Lack of Nacre (Black-lips oyster) to sustain pearl production
- Producers are now selling low-quality pearls at the same prices as high-quality pearls.
- As costs have increased, local small businesses are struggling to keep up.

3- Market Chaos
As prices have risen, most farmers are no longer able to offer pearls. Meaning to keep up with the demands low grade qualities are also sold at the same price as good quality, distributors has no choice to follow the market however, this only has a negative impact on the long-term image of the pearl.

4- Competitive Market
Tahitian Pearls is not the only pearl in the world, however tahitian pearls has the advantages on certain areas than other type of pearls.
- Unique Peacock Colors
- Diverse natural colors
- A wider range of price for each grades.

There are many other type of pearls available in the market

5- What is coming up in 2024?
There is not much doubt that high-quality Tahitian pearls will be rare in 2024.
However, fundamentals (appropriate cost for each grade) are being overlooked, resulting in lower demand due to inadequate quality for the requested prices.
Because of a lack of quality control and pricing, that was maintain by distributors to keep a good balance with the producers and also retailers. its average prices are expected to collapse in 2024.