UAE to Introduce Online Rough Valuations

(IDEX Online) - The United Arab Emirates is introducing independent online valuations for every rough diamond shipment entering or leaving the country, potentially giving officials a new tool to scrutinize declared prices.

The platform, developed by eValuer FZCO and integrated into the UAE Kimberley Process (KP) Office's systems, was announced on November 4 by Ahmed Bin Sulayem, executive chairman and CEO of the Dubai Multi Commodities Centre (DMCC).

"The UAE KP Office is set to become the first KP Office to introduce online valuation across rough diamond imports and exports, integrating independent market valuation directly into our operational systems," he said.

He said the initiative would provide access to current rough diamond pricing intelligence and strengthen transparency, efficiency and confidence in the UAE's rough diamond trade.

The valuations will become part of the routine border process, rather than a separate exercise that may require manual checks.

Officials will have an independent market benchmark against which to compare the value declared by traders for each parcel. Significant differences could help identify unusual pricing, potential misdeclaration or shipments requiring further examination.

Benjamin Marriott, representing eValuer, said: "Valuation has always been one of the hardest parts of the Kimberley Process to get right. Our platform gives KP officers an independent market figure for every parcel, at the moment it crosses the border."

The system assesses parcels against market-based prices across 3,566 categories of natural rough diamonds. eValuer says its valuations draw on information gathered from major rough diamond tenders, auctions and sales by producers and other sellers.

According to the company's website, its specialists sort rough diamonds into categories and process sales-price information using a proprietary algorithm. eValuer says it does not buy or sell diamonds and that its valuation team has at least 20 years' experience.

The company describes three price books: one based on tender and auction sales; another covering contract sales, including those by De Beers Trading Company, Alrosa and Rio Tinto; and a weighted market average. It says its price book is based on recent rough diamond sales rather than polished diamond prices.

eValuer describes itself as the world's largest independent rough diamond valuator. It says it holds an independent valuation mandate for the Botswana government and publishes a rough diamond price index. The company is offering its platform to KP offices in other countries.

According to Kimberley Process statistics, the UAE imported 91.16m carats of rough diamonds worth $7.16bn in 2025. Exports totaled 89.64m carats valued at $9.28bn. 

Pic courtesy eValuer.