India's Rough Imports Slashed by More Then 20% in May
June 17, 12 by Edahn Golan
(IDEX Online News) – After surging in April, rough diamond imports by India were severely curtailed in May. The turn comes as demand waned, prices increased and liquidity was limited. By nearly any measurement, rough trade by India suffered a double-digit decline.
India imported $1.14 billion worth of rough diamonds in May, dropping 20.1 percent year-over-year and 28.2 percent compared to April based on provisional figures released by the Gem & Jewellery Export Promotion Council (GJEPC).
The volume of imports dropped 27.7 percent compared to April, and the average value of imports was down 0.8 percent to $110.57 per carat.
Compared to April, rough diamond exports increased 1.4 percent to $116.9 million. Year-over-year, exports decreased 24.7 percent.
