De Beers’ Diamond Trading Corporation (DTC) has increased rough diamond prices by three to five per cent for all categories before the holiday season. Prices for rough import from Russia have also risen by two the three per cent.
Diamond makes up 80 per cent of the jewellery cost overall, while the benchmark diamond price has had a 0.52 per cent decline over the last month, according to Divine Solitaire. Indian diamond processors predict that the recent price risings for rough diamonds might lead to an interest in ornaments made of natural precious stones.
“Cut and polished diamond prices will also increase proportionately as diamond processors would certainly pass the rough price increase on to consumers,” Mehul Choksi, managing director of Gitanjali Gems and De Beers sightholder, told Business Standard. CJ
