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.


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

Eduard Gorodetsky: Currently we see high demand for synthetic diamonds for use in technology segment rather than in jewelry

Director General of the Advanced Synthetic Research Center Eduard Gorodetsky told Rough&Polished about the current situation at the company, new exclusive technologies in the synthesis and production of lab-grown crystals, as well as the Research Center’s...

11 march 2024

Indian polished diamond exports outlook is negative in FY2024 - CareEdge

14 march 2024

CareEdge Ratings, an Indian rating and analytical agency, has published a new outlook of the country's diamond export business, stating that the sector may hit a five-year low in FY2024.

According to the agency, polished exports from India may dip 20% - 30% to $15 - $16 billion during 2024 financial year, while a recovery in the next fiscal will be limited.

Analysts at CareEdge say that there are a few major factors for such a bleak outlook. Among them are economic downturn in USA and China, the two main polished diamond consumer countries; growing acceptance of lab-grown diamonds (LGD); impact of G7 sanctions on Russian rough diamonds that may pose compliance and supply-side challenges for Indian manufacturers; and midstream inventory glut.

In the medium term, polished diamond exports from India will be influenced by economic recovery in consumption markets, geopolitical landscape, and customer preference for diamond jewellery in the discretionary spending space. The agency expects companies with small debt and good inventory management to survive tough times for the diamond industry.

“Players operating in smaller carat diamonds (below 0.3 carats) [are expected] to be better placed than entities dealing in certified diamonds, as smaller carat diamonds have witnessed lower price erosion and limited impact of LGD diamonds,” said Yogesh Shah, Senior Director at CareEdge Ratings.

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