Dubai : The Dubai Pearl Exchange (DPE), a subsidiary of the Dubai Multi Commodities Centre Authority (DMCCA), announced yesterday that a total of Dh99.6 million worth of pearls was transacted in 2009.
According to statistics from the Dubai World Statistics Department, the pearl trade rose from Dh95 million to Dh99.6 million last year.
DPE noted that the move towards high-quality pearls has increased significantly in Dubai, highlighting a shift in consumer preference towards exclusive pearls.
Purchases of pearls also increased last year, reflected in lower exports than in the previous year.
Growth
This increase was driven by substantial growth in the natural pearls segment, where volumes increased by 50 per cent and values tripled.
"Pearls are integral to the history of the region, and DMCCA is working towards revitalising the traditional Arabian pearl trade that once thrived through the ports of the UAE," said Ahmad Bin Sulayem, executive chairman of the DMCCA, in a statement yesterday.
"As we work towards this objective, it is encouraging to see significant volumes of pearls traded through Dubai.
These latest figures highlighting the growth of the pearl trade are significant, even more so due to the pearl trade having quadrupled in 2008 from 2007."
