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RAPAPORT... The Gem & Jewellery Export Promotion Council of India (GJEPC) appealed to producers to curtail the supply of rough diamonds for a few weeks in order to maintain stability and confidence in the diamond market during the current economic turmoil.
“It is very vital that we maintain equilibrium between demand and supply and keep global stock and debt manageable during these challenging times,” said Vasant Mehta, chairman of GJEPC and vice president of the International Diamond Manufacturers Association (IDMA).
He also appealed members of the Council to be very cautious for now and to understand the market reality. Mehta claims that with reduced supply, diamond markets will remain more stable, and thus this reduction would be in the interest of all the stakeholders in the long run.
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