4th quarter rough diamond demand to decline by $1 billion

The Citizen reports fourth-quarter rough diamond demand will be about $1.2 billion less than the $4.6 billion sold in each of the first three quarters of the year, Israel Diamond Institute chairperson Moti Ganz said this week.

He explained to the Citizen that reduced demand for cheaper and small diamonds in the US was partly offset by strong demand from the Indian and Chinese domestic markets. “But the consumers in these new emerging markets demand larger and higher quality goods.”