Diamond Manufacturers Association president Moti Ganz : There is a shortage of rough diamonds worldwide.
Israel’s polished diamond exports rose 17.5% to $726 million in January 2007, excluding returns, but rough diamond exports fell 10.1% to $248 million.
Rough diamond imports fell 23.7% to $269 million. Israeli Diamond Manufacturers Association president Moti Ganz said the fall was due to worldwide shortage of rough diamonds, after diamond syndicate De Beers cut its new sights for diamond merchants by 30%.
Polished diamond imports rose 11.7% to $285 million in January. Controller of diamonds Shmuel Mordechai said that the US continued to the primary market for Israeli diamond exports with 56% of total exports. Hong Kong accounted for 17%, Belgium - 8%, the UK - 5%, and Switzerland - 3%.
Published by Globes [online], Israel business news - www.globes.co.il - on February 4, 2007
© Copyright of Globes Publisher Itonut (1983) Ltd. 2007