Pearl industry eyes $50m value by 2015

FIJI - Long ago pearls were important financial assets and were comparable in price to real estate, as thousands of oysters had to be searched for only one pearl. They were rare then because they were created only by chance.

Today, pearls are cultured by man but are still expensive. Fiji's pearl industry is still in an infancy stage with most of the farms being largely supported by government.

It is Fiji's aim to have a pearl industry similar to that of the Cook Islands and French Polynesia. It has borrowed models used in the two countries for its pearl farmers, who are mostly indigenous Fijians.

Currently worth F$7.5 million, the government is aiming at increasing the value of the industry to F$50 million by 2015.

Source: Islands Business