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India’s Polished Trade Improves in June

India’s polished-diamond exports grew 7% year on year to $1.98 billion in June, data from the Gem & Jewellery Export Promotion Council (GJEPC) showed.

By volume, polished exports increased 17% to 3.1 million carats, with the average price of exports falling 8% to $640 per carat. Polished imports slid 9% to $228 million, leaving net polished imports 10% higher at $1.75 billion.

Rough-diamond imports soared 48% to $1.79 billion, while rough exports dropped 9% to $118 million. Net rough imports jumped 55% to $1.67 billion.

India’s net diamond account for June — calculated as total rough and polished exports minus total imports — slumped 84% to $84 million.

In the first half of the year, polished exports declined 3% year on year to $11.67 billion, while imports slid 8% to $1.3 billion, according to Rapaport calculations. Net polished exports climbed 5% to $10.38 billion.

Rough imports increased 14% to $9.76 billion, with rough exports rising 14% to $842 million. Net rough imports increased by the same percentage to $8.92 billion. The net diamond account for the half-year fell 31% to $1.46 billion.
Source: Rapaport, Image: Hindustan Times