INSIGHT 睿智角度 42 | JNA September/October 2024 Japanese pearl companies are leaning towards a value-added approach centred on sustainability, technology and the Japanese Akoya pearl’s enigmatic allure to stand out in the global trade. 日本珍珠商以实现价值为原则，致力推动可持续发展和提升技术，并彰显日本 Akoya珍珠的迷人魅力，在全球业界脱颖而出。 JPEA cultivating steady growth for Japanese pearls 带领日本珍珠行业持续增长 | Bernardette Sto. Domingo 杜明高 | Ensuring longevity and sustainable growth in the Japanese pearl sector hinges upon modernising pearl farming techniques and marketing strategies. Such initiatives, in turn, can further raise the profile of Japanese Akoya pearls globally. Japan will implement the findings of a 10-year genomic research on Akoya pearl oysters this year. This will be instrumental in growing healthier oysters and finer-quality pearls as well as promoting sustainable pearl farming. Led by the Japan Pearl Exporters' Association (JPEA), Japan is also hosting pearl farm tours where visitors can immerse themselves in the pearl’s fascinating journey and witness firsthand Japan’s pearl-growing expertise. George Kakuda, president of JPEA, said the Japanese Akoya pearl’s inherent splendour is at the centre of these multipronged strategies. Market conditions A limited labour force, however, is likely to affect supply of the beauteous white pearl, coveted for its nearperfect round shape and mesmerising lustre. “Production volume of Japanese Akoya pearls will likely remain low,” shared Kakuda. “The quantity of pearls to be distributed in the market will be kept very small over the next two to three years, but we will ensure that these pearls will be of finer quality. That will be the main differentiator.” Tight supply is likewise expected to make Japanese Akoya pearls more desirable in the international trade. Japanese pearl companies also deal in South Sea and Tahitian pearls, and demand for these products is also stable, said Kakuda. Business in 2023 and in the first half of 2024 was mainly driven by Asian buyers who were on the lookout for mid-range decent-quality pearls. In fact, 40 per cent to 50 per cent of sales were generated from Asia, led by China, at international jewellery shows in Hong Kong and Japan. India is also a solid pearl market for Japanese companies. Most recently, the Philippines and Vietnam have been placing increasingly larger orders, demonstrating a growing penchant for pearl jewellery in Southeast Asia. Prices were on the uptick as well, having risen by 30 per cent over the last three years on the back of strong demand from Asian markets. The pearl price scenario is about to change, though. “We anticipate an eventual price correction,” noted Kakuda. “In reality, this bodes well for the industry since this presents an opportunity for other markets such as the US and Europe to start buying pearls again. This is already happening on some level.” Better pearls With other markets returning to the fold, JPEA is preparing to offer added value to buyers of Japanese Akoya pearls: Sustainability and unparalleled quality. Ten years ago, the Japanese pearl industry initiated a study aiming to decode the genome of the Akoya pearl oyster (Pinctada fucata). Genome refers to all-
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