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Global Diamond Production -10% to $13B in 2012
Production by Volume +10%, Prices -14%
Jul 9, 2013 3:34 AM
By Avi Krawitz
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RAPAPORT... Global diamond production fell 10 percent by value to $12.64 billion in 2012 as rough diamond prices slumped during the year, according to data published by the Kimberley Process Certification Scheme. However, by volume, production rose 10 percent to 127.962 million carats. The average price achieved from global production fell 14 percent to $98.81 per carat.
Botswana ranked as the top diamond producer by value in 2012 despite registering a significant decline during the year. Botswana production by value fell 24 percent to $2.98 billion, while volume production dropped 10 percent to 20.554 million carats. The average price of Botswana’s production decreased by 15 percent to $144.95 per carat.
In contrast, Russia maintained steady production to retain its position as the top producer by volume and closed the gap toward becoming the No. 1 producer by value. The country’s production jumped 7 percent by value to $2.87 billion, while volume fell 0.6 percent to 34.927 million carats and the average price of Russia’s production rose 8 percent to $82.28 per carat.
Canada ranked third in terms of value at $2 billion with production of 10.450 million carats as the average price of rough diamonds fell 19 percent to $192.07 per carat. Angola came in fourth place with a value of $1.11 billion after mining 8.330 million carats, followed by South Africa at $1.03 billion, with 7.077 million carats produced.
However, other top diamond producers, just measured by volume, included the Democratic Republic of the Congo (DRC) with 21.524 million carats valued at $183.1 million; Zimbabwe with 12.060 million carats valued at $644 million and Australia with 9.180 million carats valued at $269.4 million.
The total rough exports by all Kimberley Process member states fell 4 percent to $50.27 billion, while rough imports were flat at $50.92 billion.
The European Community was the world’s top exporter of rough with 126.822 million carats valued at $17.81 billion leaving the region during the year, while it imported 124.813 million carats valued at $16.79 billion. The United Arab Emirates exported 60.446 million carats valued at $6.82 billion and imported 59.744 million carats valued at $4.56 billion.
Among the other major diamond manufacturing and trading centers, India imported 151.873 million carats valued at $14.88 billion and exported 34.439 million carats valued at $1.8 billion. Israel imported 13.271 million carats valued at $4.66 billion and exported 13.789 million carats valued at $3.61 million.
Lesotho again ranked as the highest value producer despite the fact that the average price of rough production there slumped 61 percent to $629.43 per carat.
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Tags:
Avi Krawitz, Botswana, diamonds, Kimberley Process, Rapaport, Russia
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