The demand for pearls in China

Pearl Makes a Comeback in the Fashion Circle, Sales Soar and Prices Surge, Identifying "Real" Pearls Becomes a Challenge.

"I am fascinated by pearls." One day in June, Ms. Wang from Beijing purchased three pearl necklaces and a pair of pearl earrings in one go at the jewelry store. Young consumers like Ms. Wang who are "hooked" on pearls are not few in number on social media platforms. Nowadays, there are over five million notes on pearls when searching for related keywords on Xiaohongshu (a social media platform in China). From the shared content, it can be seen that the post-90s and post-2000s generations are gradually replacing mature women and older mothers as the main consumers of pearls in the new generation.Influenced by factors such as supply shortage, the pearl market has experienced a price surge. "Pearls have been experiencing a slight increase since the second half of last year, and there was a significant surge in the domestic market in March this year, with a roughly 50% increase in the price of seawater pearls. Livestreaming has had a great impact on pearl sales, allowing the general public to have a better understanding of pearl jewelry," said a jewelry merchant named "Blue Moon Pearls" from Huadong International Jewelry City in Shanxiahu Town, Zhuji City, Zhejiang Province, in an online interview with reporters.A jewelry merchant admitted, "Since the beginning of this year, there has been a price increase in seawater pearls, and freshwater pearls have also followed suit. Many of the pearls we sold in May were acquired during the Chinese New Year. After selling them, the prices for acquiring new pearls have become very high. The current acquisition prices are equivalent to our previous selling prices, and we ourselves indeed feel that they are expensive."Meanwhile, a jewelry merchant specializing in seawater pearls informed the reporter, "There is a greater demand for seawater pearls because they have a better luster. Although the 'small rice pearls' in our store have not increased in price, our acquisition costs have already risen by about 100 yuan."Regarding the reasons for the increase in pearl prices, jewelers have different opinions. Some believe that it is due to a reduction in the cultivation area of freshwater pearls in our country, leading to a decline in pearl production and a decrease in supply. In recent years, pearl production in our country has shown a downward trend. Data from the Pearl Industry Association of Zhejiang Province shows that in 2019, the national production of freshwater pearls was approximately 1.2 million kilograms, which decreased to around 1 million kilograms in 2020, around 800,000 kilograms in 2021, and around 700,000 kilograms in 2022.

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