Japan Imports Cheaper Diamonds in February

While the total value of diamonds imported to Japan in February has declined compared to last year, their total weight has increased. This trend also occurred in February last year, but has deepened as average price per carat in February was $406, down from $449 a year ago.

Japan imported 198,934 carats of polished diamonds, an increase of 2 percent compared to February 2005. At $80.82 million, the value of imports   declined 7.7 percent compared to February 2005.

During the first two months of the year, Japan imported 456,399 carats, worth $192.665 million, an increase of 1.8 percent in weight but a 1.7 percent decline in value compared to 2005.

Imports from China, Thailand and the U.S. increased dramatically, while imports from Russia, Belgium and especially Israel, fell. Imports from India, with an average $224 per carat, lost 5.6 percent in value while jumping 16.4 percent in weight.

India is Japan’s largest source of polished diamonds by value and volume.