India’s Rough Diamond Imports in May $589 Million
June 16, 09
India imported $589.15 million in rough diamonds in May, continuing months of declining imports. Compared to May 2008, imports declined 45.4 percent. The volume of imports declined 35.5 percent to 9.061 million carats.
India has very large volumes of polished diamond stocks, at a time of low consumer demand and is therefore manufacturing at a decreased capacity, one reason for the lower import levels of rough diamonds.
Rough diamond exports of $48.19 million dollars and 1.339 million carats were a 37.1 percent decline in value and 47.7 percent drop in volume.
The average value of rough diamond imports in May was $65 per carat, while the average value of exports was $36 p/c.