Varvara Dmitrieva: The jewelry industry of Yakutia is distinguished by its creativity, unique cultural code and conservation of traditions

Varvara Dmitrieva, Associate Professor and Head of the Department of Precious Stones and Metals Processing Technologies of the North-Eastern Federal University, told Rough&Polished about the results of the Forum of jewelry Craftsmanship and the prospects...

Yesterday

Valery Budny: There is no strategy and legislation in Russia enabling the full cycle processing of precious raw materials within the country

Valery Budny, Head of the Jewelry Russia program and CEO of the JUNWEX media holding, told Rough&Polished about the results of the meeting and pressing issues in the precious metals and precious stones (PMPS) and the jewelry sectors.

11 april 2024

Paul Zimnisky: Natural diamonds face the risk of eroding their appeal if constantly discounted

New York-based independent diamond and jewellery analyst and consultant Paul Zimnisky told Rough & Polished’s Mathew Nyaungwa in an exclusive interview that the industry should do away with discounts. He said the industry should treat natural diamonds...

01 april 2024

Edahn Golan: Lab-grown diamond prices to continue declining

In an exclusive interview with Rough&Polished's Mathew Nyaungwa, Edahn Golan, proprietor of the eponymous Edahn Golan Diamond Research and Data, predicted that the prices of lab-grown diamonds would continue to decline, especially at the retail and...

25 march 2024

ADPA’s Ellah Muchemwa: G7 restrictions to bring extra costs from diamond mining to retail

The African Diamond Producers Association (ADPA), which has openly registered its disdain for the G7’s rough diamond trade restrictions, is of the opinion that the move will bring extra costs on all stages, from mining to retail. ADPA executive...

18 march 2024

Dubai diamond trade up 2% in 2023 as polished segment shows rapid growth - DMCC

13 march 2024

Dubai Multi Commodities Center (DMCC) has published its annual trade statistics for 2023 and revealed that the value of the diamond trading increased by 2% to $38.3 billion. The five-year compound annual growth rate amounted to 11%.

The organization said that, although in recent Dubai diamond sector was mostly centered around rough diamond trade, the polished segment increased substantially last year. Polished diamond trade was up 32% year-on-year to $16.9 billion, accounting for 44% of the total trade value and consolidating UAE’s status as the world’s leading diamond trade hub for rough and polished diamonds.

Meanwhile, rough diamond trade value decreased 13% year-on-year to $21.3 billion. According to DMCC, despite the global price of rough diamonds decreasing approximately 20% in 2023, Dubai managed to maintain its strong rough trading volumes.

Dubai has also supported lab-grown diamonds (LGD) trade last year which increased 10% year-on-year to $1.6 billion.

"Our appeal to diamond industry segments across the world is exemplified by our ability to maintain strong trade volumes in rough whilst rapidly advancing polished and lab-grown diamonds. The polished segment now represents almost half of our diamond trade, consolidating our status as the world’s number one hub for rough and polished," said Ahmed Bin Sulayem, Executive Chairman and Chief Executive Officer of DMCC.

Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished