Relieved to not have been affected by the tsunami that devastated so much of Indonesia and other Asian countries, the Indonesian South Sea pearl industry is set to step up promotion and stabilize pearl output.
Secretary General of the Nusantara Pearl Group Mr. Martono, has given assurances to the Indonesian Pearl Culture Association that they will work to maintain price stability which will continue to give South Sea pearl sellers the edge in this seller’s market. According to Mr. Martono, Indonesia’s South Sea pearl production is increasing slowly by a mere 10% from 2500 kilo in 2004.
Much of the blame for the recent fall in South Sea pearls rests solely on the Nusantara Pearl Group and the lower-than-market bids accepted at their auction. This dropping trend was reversed, however, at the Concorde auction in Hong Kong. The assurances garnered by Mr. Martono ease the fears of many that the Tahitian pearl disaster of the late 90’s will not be easily repeated in the South Sea pearl industry.
The Indonesia Pearl Culture Association, otherwise known as ASBUMI, is embarking on a new value-added approach for the Indonesian South Sea pearls. The will soon be launching a new line of finished jewelry pieces to be designed by European designers, and marketed to the European community. In this way they are trying to ‘own’ the Indonesian pearls instead of letting all product filter through International wholesale levels.