WDC foresees two distinct value chains for diamond industry

World Diamond Council (WDC) has projected that the diamond industry will likely have two distinct value chains.
Council President Edward Asscher told the closing session of the 2021 Intersessional Meeting of the Kimberley Process (KP) that of the two, one will consist of responsibly sourced diamonds and the other that does not.
He alleged that some KP members were not ready to meet the expectations of jewellery consumers, who are now concerned about diamonds that are responsibly sourced.
“It might well be that the considerations of consumers are far beyond the field of perception of producing countries, polishing centres and governments,” said Asscher.
“But what happens if producers do not listen to the market? They become obsolete.” 
He, however, said that the KP had the potential to create a level playing field should it meets consumer expectations.
“But there is clearly resistance, and I believe it is because some of us see the Kimberley Process Certification Scheme as an enabler of trade, while others see it as a restrictor of trade,” he said.
Asscher said there was a need for the KP members to work together to reform the organisation or leave behind those that were not willing to evolve.

Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished