Advanced Search

India’s Rough Trade Slows in June

Jul 18, 2016 4:29 AM   By Rapaport News
Comment Comment Email Email Print Print Facebook Facebook Twitter Twitter Share Share
RAPAPORT... India’s rough imports slumped in June reflecting a slowdown in demand for the raw material, while polished exports were flat.

The value of outbound shipments of polished hit $1.85 billion during the month, while the volume of exports fell 4 percent to 2.63 million carats, according to provisional data from the Gem and Jewellery Export Promotion Council (GJEPC). Polished imports rose 5 percent to $252 million. Net polished exports, the excess of exports over imports, slipped 1 percent to $1.59 billion.

Rough imports to the world’s largest manufacturing center plunged 20 percent to $1.2 billion, after De Beers reported a smaller sight in June, while maintaining a “cautious outlook” for the market. Rough exports surged 27 percent to $130 million.

India’s net diamond account, which is calculated as exports of both polished and rough minus imports to reflect the added value of India’s diamond trade, more than doubled to $519 million.

During the first half of the year, India’s polished exports fell 3 percent to $10.81 billion and rough imports rose 12 percent to $8.54 billion. The country’s net diamond account contracted by 24 percent to $1.6 billion for the six month period.
Tags: diamonds, GJEPC, India, jewellery, Jewelry, Rapaport News, Surat
Similar Articles
Joanne Lebert ImpactNon-Profit Quits Kimberley Process
Dec 17, 2017
Impact, a Canada-based non-profit organization, is leaving the Kimberley Process (KP), claiming the scheme is ineffective in policing
Comments: (0)  Add comment Add Comment
Arrange Comments Last to First
© Copyright 1978-2018 by Martin Rapaport. All rights reserved. Index®, RapNet®, Rapaport®, PriceGrid™, Diamonds.Net™, and JNS®; are TradeMarks of Martin Rapaport.
While the information presented is from sources we believe reliable, we do not guarantee the accuracy or validity of any information presented by Rapaport or the views expressed by users of our internet service.