India Rough Diamond Trade Charges Ahead in July

India imported in July $848.31 million worth of rough diamonds, a 25.5 percent year-over-year decline compared to July 2008. Prices of rough diamonds are still in a slump even as demand in July was picking up. As a result, the rate of decline is shrinking, and trade was on the rise.

The 25.5 percent decline is far less than the 43.3 percent decline noted in June. Month-over-month, exports increased 10.2 percent in value, further emphasizing the recovery in the rough diamond section of the global diamond industry.

In volume, India imported 14.65 million carats, at an average value of $57.91 p/c.

India exported in July 972,000 carat of rough diamonds with a stated value of $40.71 million, according to the provisional data published Tuesday by the Gem & Jewellery Export Promotion Council (GJEPC).

Net imports in the month stand at $807.6 million for 13.68 million carats, an average value of $59.04 p/c.