Japan’s Polished Diamond Imports Slide in February

Japan imported $67.62 million worth of polished diamonds in February, a slide of 18.46 percent compared to last January, and down 16.3 percent compared to February 2006. In volume, Imports totaled 170,642 carats, falling 30.39 percent from January’s 245,135 carats, and 14.2 percent from last year.

By value, imports from China stood in stark contrast to the general trend, with imports nearly tripling to $1.439 million on shipments of 1,145 carats, an average value of $1,257 p/c (per carat).

Imports from India, Japan’s leading polished diamonds supplier, decreased 13.8 percent to $30.94 million for 133,406 carats, an average of $232 p/c. Belgium was the source of $13.83 million worth of goods, a decrease of 27.1 percent compared to February 2006. In volume, however, shipments increased 33.4 percent to 15,747 carats, an average of $878 p/c.

Israel, Japan’s third largest supplier, saw shipments soften 9.6 percent to $7.74 million for 7,737 carats of goods, averaging a high $1,458 p/c.

Since the start of the year, Japan has sharply decreased its polished diamond imports. In value, imports shrunk 21.9 percent to $150.54 million while in weight imports declined 8.9 percent to 415,777 carats, bringing the average price down to $362.07 p/c.

During the first two months of 2006 the average value stood at $422.14 p/c.