Within seven years, the supply in the diamond market will decrease by 10%, which is about 15 million carats, thereby contributing to the increase in prices for diamonds, said ALROSA CEO in his interview to Vedomosti.
“We assume that the global supply of natural diamonds will decline over the next 10 years and, even if the global demand for jewelry grows at least by 1-2% per year, there will be a shortage of natural diamonds, then their price can seriously increase . Although, because of the US and Chinese trade wars, jewelry consumption growth may slow,’’ he said.
‘‘Within seven years, the market will lose about 15 million carats of diamonds, that is, more than 10%.”
The report also says that prices for stones weighing more than 5 carats have been growing since 1978.
Ivanov noted that, in particular, prices for pink diamonds increased by 300% over the past 10 years.
Depletion of mines will also help reduce the stock of natural stones, Ivanov added.