Industry News by Nemesis

Rough Trading Slowed in 2018

July 14, 2019

 

Global rough-diamond shipments dropped last year, reflecting slower trading in India and Belgium, according to new data from the Kimberley Process (KP). 

Total rough imports slipped 3% to $48.49 billion for 2018, with volume down 7% to 424.2 million carats, the figures showed last week. Rough exports fell 1% to $49.52 billion, while volume declined 6% to 428.6 million carats. 

India’s rough imports fell 10% to $17.08 billion, outweighing a 0.5% increase in imports to the European Union, which mainly comprises the Belgian trade. Both markets also saw a drop in rough exports. 

The United Arab Emirates (UAE) and China both imported more rough than in 2017. Shipments to the UAE rose 6% to $7.32 billion, though the country’s exports slipped. The nation’s average export price jumped 13% to $125 per carat, outstripping its average import price of $97 per carat. China’s rough imports also increased, bringing the country into fifth place by value, ahead of Botswana.

 

 



Image: An Alrosa diamond-sorting center in Mirny, Russia. (Alrosa)

 

Source: Rapaport

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