African diamond firms on COVID-19 response, recent developments

Rough & Polished recently contacted several diamond producers and exploration companies with operations in Africa to establish how their operations were affected by the Covid-19 pandemic and what they are doing to alleviate the impact. We also sought...

01 june 2020

“Get Diamonds” platform will soon be available in Russian, Hindi, Arabic and any other languages as per demand from any countries

A first-generation diamantaire Yoram Dvash, currently serving as the Acting President at World Federation of Diamond Bourses (WFDB) and the President of the Israel Diamond Exchange (IDE), launched his diamond manufacturing and trading...

25 may 2020

Sustainability is the only way forward - Rahul Jauhari

Rahul Jauhari, Sr Vice President of Global Sales & Marketing, Star Rays, has forged ahead professionally for more than 14 years garnering experience in Business Development, Luxury Lifestyle Consultancy, Market Analysis, Global Fashion / Luxury trend...

18 may 2020

Keeping global supply chains functioning vital – De Beers

Diamond giant, De Beers has said that it is essential to keep global supply chains functioning in view of the substantial impact of Covid-19 on the industry. Group spokesperson David Johnson told Rough & Polished’s Mathew Nyaungwa in an exclusive interview...

11 may 2020

Gabon courts foreign investors to grow fledgling diamond sector

Diamond production in Gabon, which has been a member of the Kimberley Diamond Certification Process since 2018, is currently dominated by artisanal miners. The artisanal miners are producing about 300 carats per month, according to Gabon’s director of...

05 may 2020

COVID-19 restrictions temporarily halt fancy color diamond trade

21 april 2020

Due to the COVID-19 pandemic, for the first time since its inception in 2015, the Fancy Color Research Foundation (FCRF) will not publish the Fancy Color Diamond Index (FCDI) for Q1 2020. 

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Image credit: FCRF


The FCRF had concluded the quarterly data collection process from its data suppliers and learned that the volume of transactions conducted in this quarter was not sufficient to establish accurate market pricing data for the majority of fancy color diamond categories. Contrary to the great recession of 2008, this economic crisis is characterized by a complete logistical lockdown, with global restrictions that have caused retailers, shipping and other industry logistics to be completely blocked. 
Miri Chen, FCRF CEO explained, “This situation prevents the conveyance of diamonds from sellers to buyers regardless of fancy color market prices, while the index methodology is based on data compilation derived from a minimum volume of transactions per category. Under these circumstances, the FCRF advisory board has concluded that the integrity of our price discovery process is compromised, and has decided not to present pricing data for this quarter.”
FCRF Chairman Eden Rachminov went on to explain, “The unprecedented government restrictions, as a result of COVID-19, has brought fancy color diamond trading to a temporary halt. Cargo flights are not operating, logistical centers are closed and the stores at Place Vendome, New York and Hong Kong are on lockdown.” Mr. Rachminov added, “We are seeing orders in the pipeline that cannot be fulfilled due to these limitations. We fully expect trade to resume later in 2020 and the pricing data will be available when trade becomes possible again.”

Alex Shishlo, Editor of the Rough&Polished European Bureau