RAPAPORT... Global rough-diamond production increased in 2017, mainly
due to new mines in Canada, according to data the Kimberley Process (KP)
released last week.
Total output rose 29% to $15.87 billion last year, the KP
said. By volume, production grew 19% to 150.9 million carats, with the average
price up 8% to $105 per carat.
Russia remained the largest producer of rough in 2017, its
output jumping 15% to $4.11 billion, and advancing 6% by volume to 42.6 million
carats.
Diamond recovery in Canada grew 47% to $2.06 billion, with volume
up 78% to 23.2 million carats, thus overtaking Botswana as the second-largest
producer country by volume. Canada’s production was boosted by the addition of
the Gahcho Kué and Renard mines, which both launched in late 2016. Meanwhile,
Botswana’s output rose 17% to $3.33 billion, and by volume climbed 12% to 23
million carats.
South Africa took the third spot for production value, with
a 147% surge to $3.09 billion, helped by a sharp rise in the average price by
113% to $319 per carat.
Global rough imports increased 3% to $49.85 billion for the
year, with total volume up 28% to 489.9 million carats. The average price of
imports dropped 20% to $102 per carat. India ranked as the largest importer of
rough diamonds during the year, with inbound shipments rising 31% to $18.98
billion, while volume increased 40% to 195 million carats. The European Union (EU) —
mainly Belgium — took the second spot, with the United Arab Emirates (UAE) following
in third place.
Exports of rough diamonds went up 3% to $49.94 billion, and
by volume rose 18% to 453.6 million carats. The overall average price of rough
exports fell 13% to $110 per carat. Exports from the EU fell 3% to $12.68
billion but leaped 27% by volume to 129.2 million carats, making it the largest
center for outbound shipments, followed by the UAE, Botswana and
Russia.
Top 10 Rough Producers in 2017
| Country |
Value ($M) |
Volume (’000 carats) |
Average price ($/ct.) |
| Russia |
$4,112 |
42,615 |
$97 |
| Botswana |
$3,329 |
22,961 |
$145 |
| South Africa |
$3,089 |
9,683 |
$319 |
| Canada |
$2,060 |
23,234 |
$89 |
| Angola |
$1,105 |
9,439 |
$117 |
| Namibia |
$1,011 |
1,948 |
$519 |
| Lesotho |
$343 |
1,126 |
$304 |
| Australia |
$200 |
17,135 |
$12 |
| Zimbabwe |
$175 |
2,508 |
$70 |
| DR Congo |
$157 |
18,903 |
$8 |
Top Five Rough Importers in 2017
| Country |
Value ($M) |
Volume (’000 carats) |
Average price ($/ct.) |
| India |
$18,977 |
195,004 |
$97 |
| European Union |
$12,183 |
159,800 |
$76 |
| United Arab Emirates |
$6,925 |
86,904 |
$80 |
| Israel |
$3,658 |
10,065 |
$363 |
| Botswana |
$1,983 |
10,706 |
$185 |
Top Five Rough Exporters in 2017
| Country |
Value ($M) |
Volume (’000 carats) |
Average price ($/ct.) |
| European Union |
$12,677 |
129,158 |
$98 |
| United Arab Emirates |
$9,757 |
88,379 |
$110 |
| Botswana |
$5,548 |
33,319 |
$167 |
| Russia |
$4,429 |
45,950 |
$96 |
| Israel |
$3,011 |
8,731 |
$345 |
Source: Kimberley Process
Image: Alrosa
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