Last year, the profitability of investment diamonds in rubles turned out to be high despite the global diamond industry slowdown, the representatives of the Russian diamond mining company ALROSA noted.
Demand for large, high-quality diamonds, which can be classified as investment diamonds, remained stable despite the price correction for small and relatively inexpensive diamonds, said Elena Sukhoveyeva, head of the ALROSA Diamond Exclusive program.
The Moscow Exchange Investment Diamond Index increased by 19.9% by the end of 2023, and the cost of 5-carat high-quality diamonds increased by 34%. Fancy colored diamonds have also increased in price significantly: pink diamonds were up 36%, and yellow diamonds appreciated by 39%.
According to Sergei Takhiev, the head of ALROSA’s corporate finance department, a structural shortage of natural diamonds will become more and more noticeable in the coming years due to the gradual depletion of existing deposits, on the one hand, and the growth in global consumption of luxury goods, including jewelry, on the other.
Theodor Lisovoy, Editor in Chief of the European bureau, Rough&Polished
