Stimulating investment in pearl farming in ... - World Fish Center

various project elements to describe current conditions in Solomon Islands with respect toinvesting in pearl farming. For ease of reference, the individual reports accompany thisdraft report as appendices. It is encouraging to note that interest from pearl farmers waspositive, with half of those contacted requesting more information. Ultimate success liesin landing one interested investor however, and it has emerged that there are otheractivities that might assist this process. At the end of this report we highlight the areas ofongoing research that the investors consider will overcome the remaining barriers toinvestment in Solomon Island pearls.2 IntroductionSolomon Islands is a tropical, maritime country. Comprising more than 900 islands andcovering an area more than 900 x 250 km, the two parallel archipelagos that make up thegeographical spine of the country run from 6.5 o to 11 o S. Outlying islands increase thearea of the country still more. There are a myriad of undeveloped and unspoiled bays andsemi-enclosed lagoons ranging from very small to the world’s largest double-reef lagoonsystem at Marovo Lagoon. One of the planet’s largest atolls, Ontong Java, is also foundin Solomon Islands. For generations, Solomon Islanders have based their lives around thesea; today seafood still provides the bulk of dietary protein, fishing is part of a way of lifefor most rural Solomon Islanders and living away from the coast is a rarity.As islanders’ lifestyles have undergone steady monetisation, the sea has continued toprovide, with trochus shell, beche-de-mer, shark fin and fish constituting important cashcommodities. Mother of pearl (MOP), from black-, white- and brown-lipped pearloysters has historically been an important cash commodity, although severe stockdepletion led to the imposition of an export ban since 1994. With the hope that the banhas allowed stocks of pearl oysters to replenish and anecdotal evidence that this has beenthe case the Solomon Islands Government (SIG) has raised the question as to whetherpearl farming, which contributes to the economies of some other Pacific countries, couldbe effective in Solomon Islands. This is a poor time to be entering the pearl farmingcommunity, especially black pearls. Pearls have become increasingly competitive inrecent years and scope for a new player in the market may be limited. However,competition has caused some operators to move offshore to cut labour and overheadcosts, to work with new stocks that may have marketable differences to traditional areasand escape the strict regulatory environment in some jurisdictions. Solomon Islandscertainly has the right conditions for growth of pearl oysters and plenty of space for farmestablishment, but crucially it may offer advantages in these economically importantareas.2.1 Pearl farming in the PacificSeveral species of pearl oyster (family Pteriidae) occur in the Pacific Islands region,including Solomon Islands. Two, the black-lip pearl oyster, P. margaritifera, and the2