De Beers' sales of rough diamonds decreased by 42% to $370 million at its seventh sales cycle from $638 million a year earlier.
The group earned $411 million during its sixth sales cycle in 2023.
De Beers chief executive Al Cook said that the seventh sales cycle of the year demonstrated cautiousness among sightholders.
“With the prevailing economic environment leading to softer end client demand for diamond jewellery in key consumer markets and the traditionally lower levels of midstream trading during the summer period, sightholders continued to take a prudent approach to their purchasing during the seventh sales cycle of the year,” he said.
The tentative rough diamond sales figure for the seventh cycle indicates the anticipated sales value for the period between August 14 and August 29, according to De Beers.
The amount, it said, is subject to change based on the final value of completed sales.
Mathew Nyaungwa, Editor in Chief of the African Bureau, Rough&Polished
