40% increase in rough diamonds, 20% increase in cut and polished in six months, foreign buyers are now hesitant to place orders. 40% increase in rough diamonds, 20% increase in cut and polished in six months, foreign buyers are now hesitant to place orders
- Hindi News
- 40% Increase In Rough Diamonds, 20% Increase In Cut And Polished In Six Months, Foreign Buyers Are Now Hesitant To Place Orders
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Traders are not ready to buy diamonds at inflated prices.
Rough diamond prices are increasing continuously due to less diamonds coming out of the mines. This is also affecting the business of polished diamonds. Foreign buyers have banned the purchase of cut and polished diamonds. Due to this the traders of Surat are suffering huge losses. If the prices of rough diamonds are not controlled, then the business of cut and polished diamonds, jewelery exported from Surat will be affected.
Diamond industrialist Nilesh Bodki said that in the last 6 months, the price of rough diamonds has increased by 40 percent, cut and polished by 20 percent. Traders are not ready to buy diamonds at inflated prices. Foreign buyers believe that the prices of rough diamonds will decline. So not placing a new order yet. Buyers expect diamond prices to fall in the coming days. Let us tell you, there was a good demand for diamonds even in the Corona period last year. The artisans working in the factories were becoming less and less. At the same time, this year the situation has started to change.
Impact: Traders are not making new deals due to rough diamond being expensive
Diamond industrialist Vijay Mangukia told that small traders have become upset due to the increase in the price of rough diamonds. Traders are waiting for prices to come down. This is the reason why new deals are not happening. The orders from abroad have also come down. US buyers are not ready to pay the increased price of jewellery. At the same time, traders are worried that the prices of rough diamonds may increase further.