GJEPC Appeals for Curtailment of Rough Supply

The Gem and Jewellery Export Promotion Council (GJEPC) of India has appealed to all rough producers to curtail the supply of rough diamonds until the current economic situation eases. According to the GJEPC, this is move is needed to maintain stability and confidence in the diamond market.

Supporting a similar appeal issued earlier by the World Federation of Diamond Bourses (WFDB), GJEPC Chairman Vasant Mehta said, “It is very vital that we maintain equilibrium between demand and supply and keep global stock and debt manageable during these challenging times.”

 “With reduced supply, diamond markets would remain more stable and this reduction would be in the interest of all the stakeholders in the long run,” he added.

Mehta also urged members of the Council to exercise caution in their business dealings keeping the market realities in mind, adding that this was necessary for manufacturers and traders to maintain cash flows even during a credit crunch.