Phu Quoc Pearls expects to make a name for itself in Vietnam
After many efforts, we finally met with
Kevin Farrel, security manager of Phu
Quoc Pearls, a Vietnamese-Australian
joint venture cultivating marine pearl
oysters in Phu Quoc (Kien Giang
Province).
At his spacious oyster farm on the quiet beach of Duong To, the
manager is receiving two local guests on a verandah fronting the sea
where hundreds of oyster cages are located in the water, 150 meters
offshore. On the sea, a small ship is helping workers clean up the
oysters. Every four weeks, the cages are pulled out of the water to
remove barnacles and other foreign matters clinging onto the mollusk
shells. This process is necessary as to ensure the pearl quality. The
task is usually not easy, especially in rough sea.
In Phu Quoc there used to be a Vietnamese-Japanese joint venture
culturing pearl oysters. The joint venture terminated operations due to
an economic crisis in Japan causing the collapse of the mother
company. Besides other causes, according to Kevin Farrel, the joint
venture underwent a technical failure since they had failed to use
sufficient weights to anchor their oyster cages onto the sea bed.
Consequently, they incurred heavy damage as their cages had been
washed away in storms.
This is not the first time Kevin Farrel has cultivated marine pearl oysters
in Vietnam. Some years ago, his company was unsuccessful with its
calling in Nha Trang (Khanh Hoa Province). Only after two
years'studying did he realize that Phu Quoc is highly suitable for the
business: natural pearl oysters are ready in the region, the sea water
abounds with plankton, and the weather is favorable.
The first pearl gems obtained after one year and a half of cultivation at
the Phu Quoc Pearls JV are not second in terms of quality to those
produced in Perth, a city on the coast of Western Australia, which is well
known for its cultured pearls.
Phu Quoc boasts considerable natural reserves of pearl oysters. Cat, a
local supplier in Phu Quoc, can provide Farrel's oyster farm with as
many as 5,000 oysters a year. According to Cat, the mollusks are fished
in the waters around small islands in the region. For an oyster sold, he is
VND5,000 to the good. Cat was wearing a ring with a gem worth some
VND3 million on it. "It's just a natural pearl," he explained. "A qualified
cultured pearl gem is worth many times higher than this."
He was true. Among the cultured pearls on display in the showroom of
Phu Quoc Pearls, there are US$1,500 spherical pearls, US$350 pears,
and US$250 drops. The most highly prized pearls are spherical. Their
value also varies according to their colors. The most prized shades are
white, black, rose, and cream. Pearl sizes are usually taken into
consideration as a matter of course.
Any trade may run at its own risk. So does the culture of pearls. It is
uneasy to produce qualified gems as one may have expected.
"Anyway," said Farrel, "we need more time to bring our business to a
successful issue."
Every year Phu Quoc Pearls buys some 10,000 oysters at VND50,000
each. After a mother-of-pearl bead is introduced into the pearl oyster,
the mollusks will be put 14 meters deep in the sea for six weeks. The
oysters will accustom themselves with the invasion of their bodies by
those beads. Every six oysters then will be put into a metal cage for
keeping in the sea until their products can be harvested. During this time
the bead acts as an irritant in the mollusk and the oyster begins
depositing layers after layers of nacre around the bead, thus producing
a pearl.
Medium-sized oysters produce qualified pearl gems. A large spherical
gem needs one year and a half to take shape. It is not that all cultivated
oysters can yield gems. However, according to Cat, it pays even if only
30% of the oysters produce pearls.
As yet, the Phu Quoc Pearls JV does not have enough products ready
for export. Domestic and foreign travelers - most of them are Thai
visitors coming on the tourist liner Star Cruises every Saturday - show
their interest in the cultured pearls here. A domestic market for the joint
venture's qualified products seems to be promising.
"Investing in marine pearl cultivation in Vietnam, we wish to contribute
our effort to help boost tourist activities in the country," Farrel says. "We
strongly believe that," he adds, "some day, tourists would prompt one
another to visit Phu Quoc to purchase pearl gems."
Kevin Farrel has got married to a Vietnamese. This may imply
somewhat his insight as well as his belief toward the potential prosperity
of Phu Quoc Island and the Phu Quoc Pearls JV.
By Quang Thai - The Saigon Times Weekly - August 26, 2000.
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