| Oups....
no good news at all for the business.
Since last week, the export tax is officially suspended for 3 months from the 1st of october to the 31st of december
I think we can talk about this tax for a long time.
Yesterday, there was a meeting at the GIE PdT. We heard that it was really stormy.
Anyway, all the pearls farmers are upset against the GIE PdT, because they are paying the export taxes and the overall conclusion concerning the efficiency of the promotion is less than 10 new customers in the last 10 years of activity.
Farmers are not economists but they can see that the price of the pearl is falling little by little every day. They also know that the GIE PdT have used more than 100 millions USD in 10 years. Won't you be mad if it was your money?
So, pearl business is not in good health in Tahiti. Some farmers are selling at 5$ per pearls (but of course, 8mm and low quality... don't think it is 11 mm) but they are closing their business... They have lost the faith on the pearl business.
We should see a massive pearl export volume during the last quarter of 2008, but do not consider this as a good sign;
Some buyers will make some good deal, but maybe the last one for a long time... this would be the Tahitian pearl recession.
I am rather pessimistic. Sorry.
Marama  |