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Hitesh Patel, Managing Director of Dharmanandan Diamonds Pvt. Ltd., joined the family business in 1997 to help his father Laljibhai Patel, the founder of Dharmanandan Diamonds Pvt. Ltd. Egged on by its success, Hitesh set up the overseas presence of...


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Diamond trade acquires stability - AWDC Annual Report 2016

16 may 2017
As volatility heightened on global markets in general and particularly ravaged the diamond industry in 2015, the Antwerp diamond trade shifted toward stability in 2016, AWDC Annual Report said.
After difficult 2015 the Antwerp diamond industry recorded a 5% increase in trade in 2016. A total of 202 million carats of rough and polished diamonds, with an overall value of 48 billion USD, were traded in Antwerp in 2016.
Imports as well as exports of polished diamonds in 2016 declined with respect to 2015. A total of 11.4 million carats of polished diamonds valued at 23.2 billion USD were imported to and exported from the Antwerp diamond market. Six million carats of polished diamonds with a value of 11.4 billion USD were imported to Antwerp. This represents a decline of 7% in volume and 10% in value. On the export side, declines of 9% in volume and 10% in value as compared to 2015. Overall, 5.4 million carats of polished diamonds with a value of 11.8 billion USD were exported from Antwerp.
The rough diamond trade is performing very well. While Antwerp’s polished trade followed the downward market trend as compared to the year before, the rough trade corrected this modest slide by gaining an equivalent amount of ground. A total of 190.8 million carats of rough diamonds with a value of 24.8 billion USD were imported to and exported from the Antwerp diamond market.
Imports as well as exports of rough diamond increased in comparison to 2015. Rough diamond imports to Antwerp totaled 90 million carats valued at 12.1 billion USD, while rough diamond exports totaled 100.8 million carats valued at 12.7 billion USD. This represents a 7% increase in volume and a 9% increase in the value of rough imports. Exports of rough diamonds increased 5% in volume and 11% in value.
Thus, says the report, AWDC is reinforcing its leading position as rough trading hub by facilitating the presence of tender houses and influx of rough diamonds from smaller producers and junior miners. AWDC also maintains its existing relationships with leading producers such as Russia’s ALROSA. Commercial production started recently at the Renard Mine and Gahcho Kué Mine in Canada, as well as the Liqhobong Mine in Lesotho, and 100% of the sales of these goods will take place in Antwerp. AWDC expects these productions to deliver an additional 7 million carats onto the market in 2017.
2016 was a good year, and the future is looking promising, AWDC Annual Report 2016 concludes.

Alex Shishlo, Editor of the Rough&Polished European Bureau in Brussels