India Rough Diamond Trade Remains Low in April

India imported $457.98 million worth of rough in April, the first month of the 2009/10 fiscal year, starting it low key as year-over-year, imports declined 54.1 percent. In volume, imports declined 46.4 percent to 8.239 million carats averaging $55.59 per carat.

The decline in imports is not surprising. India is still struggling with the outcome of the global economic slowdown, which left it with a large surplus of polished diamonds. Coupled with the time of year, as Indian traders are getting ready for their summer vacations, diamond polishing facilities are far from full capacity.

Rough diamond exports $50.08 million on shipments of 1.279 million carats declined 52.2 percent by value and 62.5 percent by volume.