Kaliningrad Amber Factory, a company of Rostec State Corporation is planning to hold five amber auction sales in 2018. A set of large-sized ambers with the weight of over 1 kilogram will be auctioned at the annual International Economic Forum for Amber Industry Amberforum-2018 in June.
The first auction for amber processors was held in March with three more events scheduled for April, August and November 2018. The company expects to sell a total of 30 to 45 tons of raw amber in 2018.
Last year Kaliningrad Amber Factory organized three open auctions and the proceeds of raw amber sales totaled the amount of over 223 million rubles. Furthermore, the company sold over 170 tons of the products via Saint-Petersburg Stock Exchange online exchange tenders.
Furthermore, Kaliningrad Amber Factory started direct exports of raw amber to a number of countries in 2017. The first export contract was executed with a Chinese company JYJT at the beginning of last year. According to that agreement, a total of 680 tons of raw amber will be supplied in lots in course of 3 years. The proceeds from the contract totaled 2.4 billion rubles in 2017. Export contracts were also signed with a number of Latvia and Lithuania based companies.
A total of 544 tons of raw amber was sold in 2017 both locally and internationally. According to the company’s press service, the recovering and production of amber raised by 50 per cent in 2017. In total 453 tons of amber was recovered in 2017 at Kaliningrad Amber Factory. Thus, an all-time record of recovering at the Primorsk quarry that had stood for 40 years was bettered by 30 per cent.
