HUB 生产基地 JNA March/April 2025 | 33 jewellery creations,” said Ploy Center Co Ltd Managing Director Suwatchai Chuabanlue. “We already have a few Middle East clients but intend to further expand our footprint in the region.” Blue Gems Co Ltd, for its part, is witnessing greater interest from Southeast Asian countries. Indonesia, for one, is showing tremendous potential, noted company sales manager Phacharaphat Ployraya. “While this is not necessarily a new market for us, we have observed stronger demand from Indonesian buyers of late. They gravitate towards top-quality rubies and sapphires,” he revealed. India is likewise emerging as a formidable market for Thai coloured gemstones, one that could potentially rival Chinese demand in the long run, said Sasha Golokoz, owner of Vitalit Co Ltd. “India has a growing middle class and a rich jewellery heritage. Buyers are currently price-conscious, but this may change, similar to how Chinese clients eventually grew to appreciate quality and understand the market forces affecting our prices,” she continued. Market alignment Navneet Gems and Minerals Ltd is relying on its innovative range of coloured gemstones to bolster business. At Tucson this year, it unveiled a collection of unheated Montana sapphires from the Rock Creek mines. Varying from 1 to 3 carats in size, the stones come in commercial to finer qualities and are available as calibrated and single stones in classic cuts. Director Navneet Agarwal described response to the new production as “exceptional, with buyers seeking to purchase the premium Montana sapphires.” In previous years, the company brought salt-and-pepper sapphires and portrait-cut rubies to market. Vitalit is likewise implementing a host of strategies to sustain business momentum. For starters, it now offers gemstone-cutting services to external parties to keep its factory running despite the downturn in the Chinese market. “In the past, we only used to cut our own gemstone production. The present challenge is keeping our skilled cutters busy; this is one way to maintain our workforce during periods of softer demand,” explained Golokoz. Consignment is another strategy to boost sales. Vitalit has joined a network of consignments, working with dealers in India, Germany and Indonesia, among others, to expand its reach with minimal outlay. Golokoz has also diversified the company’s inventory to align with market preferences. While known for its fine selections of spinel, tourmaline and garnet, it has also expanded its collection of blue sapphires. “Dealers and jewellers inform us that end-consumers are still not that familiar with tourmaline and spinel. They have yet to understand their beauty and value. Sapphire is an easier business – everyone is aware of its attributes and worth," she disclosed. Outlook Thailand’s gemstone manufacturers are adopting a cautiously optimistic stance on prospects this year, amid supply and pricing concerns. Ploy Center’s Chuabanlue expects good- to top-quality stones to move well as customers are willing to pay a premium for these. Demand is especially robust for finequality Burmese rubies of 5 carats and up and top-quality unheated Mozambique rubies of the same size. “Burmese rubies of 5 carats and up are tremendously popular, whether they be heated or unheated,” he asserted. “The challenge lies in finding the material, not in the high prices they command.” Agarwal of Navneet Gems concurs, citing the limited supply of Mozambique rubies and Australian sapphires as a major obstacle. Market resistance to prices is another. “People expect prices of coloured gemstones to go down, but these are dictated by natural supply and demand. Buyers must accept that coloured gemstones are extremely rare; there are not that many unheated rubies of 10 carats and up to be found in the market,” he commented, adding that sapphires of all colours have been moving particularly well so far this year. Golokoz sees solid demand for coloured gemstones at both ends of the quality spectrum. High-end goods are continually sought after, while buyers of midrange stones have been downgrading to lowerquality material. “Our mediumquality selections used to always sell quite well, but the market for these goods has become stagnant," she shared. Prasongpongchai admits that geopolitical conflicts and the new US administration’s protectionist policies could create uncertainties for Thailand’s jewellery exports, especially with potential tariff increases and stricter trade regulations. The country's solid reputation for quality and craftsmanship however gives it an edge, even in challenging times. “By focusing on market diversification, digital transformation and sustainable innovation, Thailand’s gem and jewellery sector can remain competitive, relevant and resilient in the global market,” said Prasongpongchai. Sumed Prasongpongchai, director of The Gem and Jewelry Institute of Thailand (Public Organization) GIT泰国珠宝学院院长Sumed Prasongpongchai
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