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Global Rough Production Slides in 2019

Jul 5, 2020 10:19 AM   By Rapaport News
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RAPAPORT... Global rough-diamond production fell 7% to $13.48 billion last year, reflecting lower output in Botswana and Canada, according to new data from the Kimberley Process (KP). Production volume slipped 12% to 130.3 million carats, while the average price increased 6% to $103.41 per carat.

Russia ranked as the top producer, bucking the negative trend with an increase of 3% to $4.12 billion and 5% by volume to 45.3 million carats. Botswana, Canada, Angola and Namibia rounded out the top five producer countries by value, with all but Angola registering a decline in output for the year.

Meanwhile, total rough imports slid 23% to $37.25 billion for 2019, with volume down 12% to 377 million carats, the figures showed. Rough exports fell 27% to $36.64 billion, while volume declined 13% to 371.4 million carats.

China’s rough imports showed the largest decrease, falling 36% to $1.5 billion. India, the largest market for rough imports, slipped 18% to $14.08 billion, while those to the European Union, which mainly comprises the Belgian trade, fell 29% to $8.7 billion. All markets also saw a decline in rough exports.

Top 10 Rough Producers in 2019

Country Value ($M) Volume (’000 carats) Average price ($/ct.)
Russia $4,117 45,271 $91
Botswana $3,435 23,687 $145
Canada $1,697 18,638 $91
Angola $1,266 9,150 $138
Namibia $1,010 2,018 $500
South Africa $873 7,181 $122
Lesotho $290 1,114 $261
Sierra Leone $168 812 $207
Australia $159 12,999 $12
Zimbabwe $141 2,108 $67

Top Five Rough Importers in 2019

  Value ($M) Volume (’000 carats) Average price ($/ct.)
India $14,085 158,627 $89
European Union $8,697 101,181 $86
United Arab Emirates $5,999 76,521 $78
Israel $2,202 9,334 $236
China $1,502 10,717 $140

Top Five Rough Exporters in 2019

  Value ($M) Volume (’000 carats) Average price ($/ct.)
European Union $9,197 105,567 $87
United Arab Emirates $7,682 79,174 $97
Botswana $3,527 28,551 $124
Russia $3,504 39,211 $89
Israel $1,903 6,369 $299
Source: Kimberley Process

Image: An Alrosa diamond-sorting center in Mirny, Russia. (Alrosa)
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Tags: Kimberley Process, KP, Rapaport News, Rough Diamonds
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