Belgium Rough Diamond Trade Folds in November

Belgium’s’ rough diamond exports in November stood at $516.7 million, a 39 percent decline compared to the $846.9 million in exports in November 2007. The volume of exports was 7.11 million carats, 21 percent lower than the 9 million carats exported the year before.

The sharper drop in value underlines the sliding, some may say diminishing, prices of rough diamonds on the market. The average rough diamond prices fell significantly to $72.71 per carat.

Many Antwerp based traders are lamenting that goods today “have no price” as buyers are willing to buy goods at decreasing prices, while sellers are only willing to accept upfront cash payments.

It is therefore not surprising that rough diamond imports fell 34.33 percent to $513.5 million. In carats, a 40.21 percent decrease to 6.32 million carats was reported by the AWDC.