The prices of rough diamonds imported into the country are increasing continuously. Their prices have gone up by 25% in the last 4 months. Its effect will soon be seen on the prices of polished diamonds as well. At the same time, diamond traders are also preparing to increase the prices of polished diamonds. Diamond traders say that they are preparing to increase the price of polished diamonds by 10-12%.
Out of every 15 diamonds sold in the world, 14 are polished in Surat. Apart from the domestic market, countries like the US, Hong Kong and UAE are the biggest buyers of polished diamonds from Surat. From there the demand is continuously coming. Diamond traders say the rising prices of rough diamonds have made it difficult for them to maintain margins. Diamond exporter Nilesh Bodki told that the price of rough diamonds has increased by 22-25% in the last four months. This has affected the profit margin. The rough diamonds we have procured will be exported after polishing at an increased price of 10-12%.
According to diamond traders, the diamond industry is going through a good phase at the moment. The demand for polished diamonds is coming from America during and even after the second wave of Corona. Significantly, on the occasion of Christmas, a large number of people buy polished diamonds in America and Europe. In such a situation, till the next four months i.e. December, the demand for polished diamonds will remain from all over the world. Traders will gradually increase prices to avoid fall in demand.
Surat Diamond Association President Nanu Vekaria said that in view of the increase in the prices of rough diamonds, the rate of polished diamonds is also set to increase by 10-12%. But demand can be affected due to an increase in price, so we will increase the price gradually.
The rough diamonds in Surat are mainly imported from Russia and South Africa. Their demand has increased by 42% in the last one and a half years. In comparison, the supply is less. So the prices are increasing. Most of the rough diamonds range from Rs 600 to Rs 37 thousand. Their price depends on the weight, quality and size.
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