India's Rough Diamond Imports Leap 109% in October

(IDEX Online News) – India's rough diamond imports surged sharply ahead in October, doubling in value compared to a year ago.

India imported $1.48 billion worth of rough diamonds in October, up 108.9 percent year-over-year and 9.3 percent compared to last September, based on figures published by the GJEPC.

The surge in imports follows a period of lower than usual level of imports that started in May, as manufacturers suffered from stunted polished diamond sales against high rough prices. In October the DTC lowered prices and decreased supply to meet the market's needs.

The volume of imports, 15.6 million carats, increased 9.4 percent compared to September and 191.8 percent compared to the depressed imports in October 2011.

Rough diamond exports declined to $99.7 million in October. The volume of exports increased to 2.8 million carats.

Source: GJEPC