Indian Diamond Imports And Exports Up
In an international arena of rising prices, the value of rough diamonds imported by India this year went up 16% since the beginning of 2008. This reflects the rising demand all over the world for polished diamonds – rather a strange phenomenon in the current global scenario of inflation and rising prices – but that’s the way it is with diamonds right now. The average value of the exports rose 12.7% over the previous year.
Out of every 12 rough diamonds in the world, India processes 11 and two thirds of the total jewellery and gems that are exported by India are cut and polished diamonds. What seems to be dictating the rise in prices are the higher end and larger diamonds. S1+ and +1 diamonds seem to be very sought after on the international market. This price rise - very often 25% in some cases - is not reflected in the lower end of the diamond scale. Diamonds with a low carat weight seem to command a very negligible change in price.
