The Israel Diamond Exchange (IDE) held the first “Blue and White” diamond fair since the start of the pandemic. The fair symbolized a full return to normal activity for the Israeli diamond industry, as per a press release from IDE.
According to IDE, Israel’s diamond trade figures have shown a huge increase, reporting triple-digit growth in all trading categories. Both diamonds and diamond jewellery were exhibited and active trading took place at the Fair; fancy coloured diamonds in a variety of sizes, at prices ranging up to thousands of dollars per stone were on display.
Data from March, April and May 2021 show that net rough diamond imports to Israel increased 112% over the same period in 2020 to $ 594 mn. Net exports of rough diamonds increased by 116% over the same period in 2020 and stood at $ 522 mn. Net imports of polished diamonds increased by 96% over the same period in 2020 and stood at $ 855 mn. Net polished diamond exports increased by 30.5%, compared to the same period in 2020 and stood at $ 1.15 bn.
Boaz Moldavsky, Israel Diamond Exchange President said: "The diamond industry, in Israel and around the world, went through a very difficult year, leaving us uncertain about the future of the industry. The IDE management is working to enable the entire sector to return to full activity, and is in contact with all relevant government agencies to advance the industry and grow it forward.”
Meira Weisberg, Chairman of the IDE Exhibitions and Foreign Relations Committee, said: “This year’s Blue and White Fair was particularly exciting and truly eye-opening. It is the first diamond show globally in over a year, coming after such a significant slowdown in trade.”
Aruna Gaitonde, Editor in Chief of the Asian Bureau, Rough&Polished
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