India’s Net Polished Diamond Exports Averages $649 P/C in June

India’s polished diamond exports continued their assent, rising 78.7 percent in June to $2.2 billion, according to provisional figures published by the Gem & Jewellery Export Promotion Council (GJEPC). In terms of volume, however, exports declined 2.5 percent to 4.5 million carats.

The small fall in the volume of exports likely underscores rising local demand by consumers.

The average value of exports, $495.11 per carat, leaped 83.3 percent from the $270.15 p/c average value in polished exports in June 2009, as retailers and consumers are slowly willing to pay more for diamonds.

Polished diamond imports - returns and purchases from traders in Israel, Belgium and at trade shows - jumped 83.8 percent to $1.46 billion in June, on shipments of 3.36 million carats.

Net polished diamond exports in June were therefore $740 million for 1.14 million carats, averaging $649.12 p/c. This is a high average value for India’s exports.