This content was first published on IGR – Italian Gemological Review no. 5 in 2018. The information provided here is therefore current as of the original publication date.
Colombian newspaper La Repùblica interviewed the President of Fedesmeraldas Oscar Baquero on the importance of emeralds in the economy of the South American country. The interview gives us some hints about the relevance of this beryl in the Colombian economy, on the eve of the important Symposium of Bogota (12-14 October); first of all, here some economic data on the current period: during 2018 exports have decreased by 6%, while, at the same time, the value of the Colombian gem has increased by 4%. Colombian production ranks third globally on a quantity level, while it gains positions as for the value of exports. Production dropped and the price raised: it is a sign that, on international markets, consumers prefer Colombian emeralds appreciating their value, thanks to the peculiar morphological and chemical combination that makes them different when compared to emeralds produced in the rest of the world. The decrease in the production does not mean that Colombian emeralds are running out: currently, if we read the figures, only 10,000 production hectares out of 100,000 are being exploited: (source: Ingeominas). It is the extraction methods that have been modified over the last decades. Today, more expensive and modern technologies are used, with frequent ups and downs in the obtained quantities. The picture shows a new position of Colombian emeralds on a market that is increasingly becoming more willing to reward the undisputed exceptional quality of the emeralds coming from the Caribbean country, provided that the consolidation of quotations is accompanied by the recovery of lawfulness in the production chain. Colombian emeralds greatly need to shuffle off their bad reputation that risked to become endemic.
The growth in the number of employed workers in the sector, also thanks to foreign investments, mainly in the area west of Boyacá, is another sign that proves the progress of Colombian emerald economy.
Gem News published on IGR – Italian Gemological Review #5, Autumn 2018
