Pearl Traders Cash In On Afro-Asian Games Rush
The first Afro-Asian games started in Hyderabad on October 24 and is ending on November 1 with participation from over 90 countries.
It is estimated that about Rs 5 crore business has been generated in just seven days and the sale is expected to reach its peak by the time the game ends.
While the demand is more than 100 per cent of the expected business, all kinds of pearl (one of the favorite item of the Africans) prices have increased from a minimum of Rs 500 per string to Rs 1,000 and above depending on the quality.
Rice pearls, oval-shaped, round varieties, button-shaped, pink and black-coloured varieties, etc are some of the `most wanted' items picked up by the Afro-Asian visitors.
``There has been a great demand for coloured-pearls, especially black, grey and pink ones as the white-coloured has become quite common and available across the globe,'' said a trader whose shop had more than a dozen African visitors visiting in just three days.
Despite an increase in gold prices, post-Diwali has seen good business for pearl and gold merchants.
In the evenings visitors from Pakistan, China, Japan, Nigeria, Thailand, Malaysia drop into
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