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De Beers warns diamond price recovery to take some time
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De Beers warns diamond price recovery to take some time
miningmx.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from miningmx.com Daily Mail and Mail on Sunday newspapers.
Gem and jewellery exports in FY24 s April-December plunged by 20.78% YoY to USD 22.7 billion, attributing the decline to global economic challenges and geopolitical factors. The import of gems and jewellery also saw a 22.43% YoY decrease. Notably, rough diamonds imports fell by 23.51%, while cut and polished diamond exports declined by 28.27%. Lab-grown diamonds, previously on the rise, experienced a 22.97% dip in gross exports. Despite the current setback, industry experts, including Colin Shah of Kama Jewelry, anticipate a gradual recovery from the 3rd quarter of FY25.
Gem And Jewellery Export Promotion Council: Gem and jewellery exports in FY24 s April-December plunged by 20.78% YoY to USD 22.7 billion, attributing the decline to global economic challenges and geopolitical factors. The import of gems and jewellery also saw a 22.43% YoY decrease. Notably, rough diamonds imports fell by 23.51%, while cut and polished diamond exports declined by 28.27%. Lab-grown diamonds, previously on the rise, experienced a 22.97% dip in gross exports. Despite the current setback, industry experts, including Colin Shah of Kama Jewelry, anticipate a gradual recovery from the 3rd quarter of FY25.
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