India’s Net Polished Diamond Exports Sag in December

(IDEX Online News) - India’s net polished diamond exports totaled $306 million in December 2010, declining 20.4 percent compared to December 2009. The low figure is especially surprising compared to the high level of net exports in November: $989.2 million.

Gross polished diamond exports totaled $2.49 billion in December, as India shipped out 5.2 million carats at an average value of $478.28 p/c, based on provisional figures released by the Gem & Jewellery Export Promotion Council (GJEPC). Gross exports nearly doubled year-over-year, rising 91.5 percent by value.

India imported $2.19 billion worth of polished, brining into the country 3.8 million carats averaging $575.35 p/c. The value of imports shot up 140 percent in December.

By volume, net exports totaled 1.4 million carats with an average stated value of $216.85 p/c.