The arguments vented by commentators to promote the concept of a central selling organisation (CSO) as the anchor component of the legalisation of the trade in rhino horn debate are seriously flawed.The success of a CSO, as once practised by de Beers for the sale of diamonds, had as a fundamental tenet, the focus on price stability throughout all aspects of the industry: the producer, the trader, the polisher and the consumer.This was achieved via a supply-control mechanism at the De Beers wholesale level coupled with the ability of its customers to buy and move diamonds to the international market. In poor market conditions, such as high interest rates, de Beers put into stock millions of US dollars worth of diamonds to avoid a slump in prices and for these stones to be released to the market under better economic conditions.Another key component of such a strategy was the massive annual investment in marketing campaigns to promote diamonds to the world consumer using its well know...

BL Premium

This article is reserved for our subscribers.

A subscription helps you enjoy the best of our business content every day along with benefits such as articles from our international business news partners; ProfileData financial data; and digital access to the Sunday Times and Sunday Times Daily.

Already subscribed? Simply sign in below.

Questions or problems? Email or call 0860 52 52 00. Got a subscription voucher? Redeem it now