47th Bangkok Gems and Jewellery Fair concludes
The 47th Bangkok Gems and Jewellery Fair which recently concluded on March 1, 2011, delivering a somewhat cautious optimism that buyers are not completely avoiding purchasing diamonds and gemstone sat their current increased prices, although there are view that the prices be brought under control. The event was slated between February 25 - March 1 , at the mpact Exhibition & Convention Center.
This year saw over 1500 exhibitors participating in 16 key product categories. There were over 3500 stalls on a single floor layout . ‘Chinese buyers gave a momentum to the show. Delegations from Russia, China and other countries visited the show. The organisers expected around 25,000 visitors, but the numbers were lesser, as the attendance from middle east regions was lower (possibly a result of the ongoing problems in these countries).
Exhibitors expressed satisfaction at the business at the show, but were cautious of how far would demand absorb the price hikes.
Exhibitors of diamonds noted a good demand across sizes and saw Indian suppliers interested in buying, especially old stock from traders willing to cash out, as new goods are too expensive. Kovit from Gemma International, a leading diamond trading firm says “Two days were very good . Buyers from Pakistan, Vietnam. Russia, India are there and they are buying. The problem is the diamond price, which should be controlled such that the demand remains in the consumer market.” The jewellery section too noted good demand for silver jewellery despite high prices, where good demand came from Russia, Brazil and India. Gold jewellery drew a mixed response and high-end exclusive jewellery sold well. Emeralds were in demand as also rubylight and tourmaline which saw strong demand from Chinese buyers. Nirmal Bardiya from RMC Gems noted, “The prices in these two stones have gone up almost two times in few months, still there is a huge demand and i see more upside from here. Over all the colored stone category are up by almost 30 percent this time”.
A highlight of the event was an introduction to the jewellery trends of 2012, which was the result of a long term cooperation programme of TGJTA with the Swarovski Group. TGJTA also focused on promotion of the Ploi Thai brand, an initiative to create a brand for Thailand’s jewellery in the global market. The fair began with the grand opening ceremony graciously presided over by H.E. Porntiva Nakasai, Minister of Commerce.