Angola Bets on Volume over Price
April 16, 26
(IDEX Online) - Angola ramped up both production and export of rough diamonds in 2025 as part of an aggressive high-volume, low-price policy.
Foreign sales surged about 70%, rising to roughly 17 million carats, according to new government figures, but the gross value was up by just 6.7% as prices slumped.
The vast majority of exports went to the UAE (78.6%), with Belgium the next largest market at 19.9%.
Export volume exceeded production up 8% to 15.19 million carats as Angola drew on stockpiles from its Luele and Catoca mines rather than waiting for prices to recover.
The government has said it aims to increase annual diamond production to 17.5 million carats by 2027.
Angola's stated policy of selling high volumes at low prices works as a revenue booster in the short term but is risky as a long-term strategy.
The move has pushed the average selling price per carat down by nearly 30%, undercutting Botswana and other more conservative producers that are cutting output to support prices.
Pic shows the Luele mine, Angola.