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Rough Trading Slowed in 2018

Global imports fell 3%, according to Kimberley Process data.
Jul 9, 2019 9:18 AM   By Rapaport News
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RAPAPORT...
Global rough-diamond shipments dropped last year, reflecting slower trading in India and Belgium, according to new data from the Kimberley Process (KP).

Total rough imports slipped 3% to $48.49 billion for 2018, with volume down 7% to 424.2 million carats, the figures showed last week. Rough exports fell 1% to $49.52 billion, while volume declined 6% to 428.6 million carats.

India’s rough imports fell 10% to $17.08 billion, outweighing a 0.5% increase in imports to the European Union, which mainly comprises the Belgian trade. Both markets also saw a drop in rough exports.

The United Arab Emirates (UAE) and China both imported more rough than in 2017. Shipments to the UAE rose 6% to $7.32 billion, though the country’s exports slipped. The nation’s average export price jumped 13% to $125 per carat, outstripping its average import price of $97 per carat. China’s rough imports also increased, bringing the country into fifth place by value, ahead of Botswana.

Top Five Rough Importers in 2018

  Value ($M) Volume (’000 carats) Average price ($/ct.)
India 17,083 168,047 102
European Union 12,247 129,272 95
United Arab Emirates 7,321 75,721 97
Israel 3,316 10,021 331
China 2,307 15,854 146

Top Five Rough Exporters in 2018

  Value ($M) Volume (’000 carats) Average price ($/ct.)
European Union $12,442 122,164 $102
United Arab Emirates $9,445 75,458 $125
Botswana $5,533 35,471 $156
Russia $4,695 44,659 $105
Israel $2,912 9,106 $320
Source: Kimberley Process

Image: An Alrosa diamond-sorting center in Mirny, Russia. (Alrosa)
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Tags: Kimberley Process, KP, Rapaport News, rough, Rough Diamonds, rough trading
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