A Drop in India’s Rough Diamond Imports
December 21, 10Based on data released by the Gem & Jewellery Export Promotion Council (GJEPC), India exported 1.6 million carats of rough diamonds worth $54.8 million, declining 15.4 percent and 16.2 percent respectively.
The drop in rough diamond trading came as prices of rough diamonds plateaued, polished stocks were high, the industry was focused on holiday sales of polished and the local industry was largely away for the Diwali vacation.
The average value of gross imports stood at $70.45 p/c, compared to $58.82 p/c last year. The average value of exports was $ 34.61 p/c in November, unchanged from the $34.96 p/c averaged last November.
In the fiscal year, rough diamond imports registered a double digit increase, growing 35.2 percent to $7.37 billion. The volume of imports in the April-November period was 102.5 million carats, a 13.9 percent rise.