Japanese Diamond Traders Stuck with Stock, Imports Focus on Low Cost Goods

With the volume of trade shrinking only moderately, it is clear that Japanese traders are supplying the same level of goods to the retail market, however at much lower values than before. This is possibly an outcome of a shift in consumer interest to lower valued goods.

Source: The J Club Inc

The average value of imports in June stood at $324.82 per carat, far less than the average $422.52 p/c imported in June 2008.

According to a diamond trader based in Tokyo, Japanese diamantaires and jewelry manufacturers are holding on to a large stock of goods and most diamond sales takes place between traders. Imports of fresh goods, mostly from India at an average value of $183 p/c, are largely to fulfill specific orders.

Imports from India totaled $21 million, a 9.6 percent decline from last year. Shipments from Belgium were worth $12.78, declining 36.5 percent year-over-year. Imports from Israel were slashed by more than half (52.5%) to just $5.13 million.