India’s Net Polished Diamond Exports Rise 7%January 21, 10
diamond exports grew
4.6% since April
The sharp year-over-year rise in exports is an indication that retailers selling jewelry set with the goods have cleaned their inventory as they were preparing for the holiday season. The average value of December exports stood at $264.70 per carat.
While the figures declined compared to exports in November, when
Exports in the first nine months of the fiscal year totaled $12.06 billion, growing 4.6 percent compared to 2008.
Gross imports were also on the rise, growing 48.3 percent to $905.7 million on imports of 2.91 million carats, a 49 percent growth in volume.
Net exports in December totaled $384.3 million on shipments of 1.96 million carats, an average $196.07 p/c. These exports represent a 6.9 percent rise over the $359.55 million in net exports in December 2008.
The large December imports have a number of reasons: returns of unsold goods from consumer markets, shipments from polishing facilities in China and imports from other centers to fulfill orders to global consumers as well as supplies to the budding local consumer market.