Summary:
Decrease in rough diamond imports is due to bank squeezing finance and increase in rough diamond prices. Rough prices have continued to rise, squeezing margins in midstream diamond industry segment, specially in India.Diamond industry analyst Aniruddha Lidibide said, “Diamond mining companies have increased rough diamond prices by almost 15 to 20 per cent in the last few months. Suppliers held polished prices firm amid shortages in some categories and as high rough prices squeezed manufacturing profit margins.Rapaport Group stated that the United States and China continue to drive market demand. Surat: All is not well for diamond workers in the world’s largest diamond cutting and polishing centre in the city. However, diamond manufacturers in India are aligning their inventory with retailers’ needs, resulting in slightly lower stock levels this time than last year..