Amber Trading

Amber trading has been going very well through many years, however, a recent crisis has created a threat for the existence of amber mines. Will amber trading survive the hard times of economy?






2008 noted unfavorable forecast in output and supply of amber. The results of shortage of natural minerals as well as financial crisis in the United States have negative effects on the development of the whole amber trade. The best and the most convenient conditions for the exploitation of deposits can be found in Sambia in the Kaliningrad Oblast. Nowadays, only one mine Primorskaja remains open. It's extremely hard to understand the reasons for which Russia decided to set up a mine in the place where amber is as deep as 55-60 meters below the surface. The annual plan of extraction has never been achieved even in the fifth part. It has also never been profitable. The beginning of 2008 gave scarce extraction and the no one knew if amber was going to be extracted at the turn of August and September. Amber stored in Kaliningrad ran out. Apart from one mine in Jantarne there is only one small Ukrainian mine found in Volynia which extracts 3 tons of amber annually. Apparently this is not enough for the existing demand. The shallow deposits of amber are constantly penetrated by the locals, some of them trafficking amber to Poland. The problem has been reduced recently because of the new custom office regulations.

All in all, the effects of the shortages can already be noticed in the supply of amber on international markets. There are less and less large and impressive pendants with huge ambers or less necklaces with beads made of beautiful and natural color types of amber. The market has already been flooded with synthetic amber or pressed amber. This is not only the effect of cost but also a problem with finding large ambers of high quality. As a result, manufacturers are afraid their products will soon be too expensive due to increase in prices of amber and silver. Will amber jewelry survive the economic crisis?