India's Net Rough Diamond Imports $941 Mln in January
February 23, 12 by Edahn Golan
(IDEX Online News) – India's net rough diamond imports increased 19.5 percent to $940.8 million in January. However, the volume of imports during the month has declined.
The net volume of India's rough diamond imports totaled 8.63 million carats, based on figures released by the Gem & Jewellery Export Promotion Council (GJEPC). This is an 8.4 percent decline from January 2011.
The average value of India's net imports increased 30.4 percent year-over-year to $109.02 per carat.
India imported $1.09 billion worth of rough diamonds in January, a 7.5 percent year-over-year increase. The rise does not meet the 24 percent average increase in rough prices over the past year, indicating a tilt towards importing lower cost goods in January.
The volume of gross rough diamond imports, 11.57 million carats, declined 7 percent. The average value of India's gross imports increased 15.5 percent to $94.58 p/c.
Rough diamond exports in January increased 44.6 percent to $153.3 million, as the volume was mostly unchanged, 2.94 million carats, just 79,000 carats less than exported in January 2011.
The average value of India's exports increased 48.5 percent to $52.17 p/c.
