India Imports $689.56 Million Worth of Rough in September

Month over month, India's rough diamond intake shot up by 83%

Despite rising demand for rough diamonds, India’s September trade figures show that imports are still well below last year’s imports. India imported $689.56 million worth of rough, 25.1 percent less than in September 2008. The volume of imports fell 20.7 percent to 11.92 million carats, according to preliminary data released by the Gem & Jewellery Export Promotion Council (GJEPC).

The comparison to last year may not provide a full picture. Compared to August, India’s imports soared by 60.1 percent in value and by 82.9 percent by volume.

Indian manufacturers are busy with a flurry of polishing activity, shortening Diwali vacations to continue manufacturing.

The average value of imports, which include gem, near-gem and industrial-quality goods, stood at $57.86 per carat, compared to an average of $66.10 p/c in August.

Rough diamond exports in September stood at $73.29 million for shipments of 2.29 million carats, a minuscule 0.6 percent increase in value and a 41.8 percent drop in volume compared to September 2008.