
India’s Polished Exports Continue to Decline
Rough shipments rebounded in April, according to data from GJEPC.

De Beers Denies It Violated Sanctions on Russian Diamonds
Allegations could harm negotiations with Botswana, media report claims.
Industry Doubles Down on Sustainability
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Market Comment - May. 24, 2023
Diamond market slow, with mixed expectations for Las Vegas shows (May 31 to June 5).
US jewelry retail under spotlight as economic uncertainty is affecting sales and inventory replacement.
Manufacturers struggling to reduce inventories. Sightholders expect De Beers to offer further supply flexibility in 2H due to market caution.
UK bans import of Russian diamonds; G7 pledges to restrict trade in Russia-sourced goods.
Petra Diamonds rough prices -13% amid weak demand at $42M May tender. Sarine 1Q revenue -26% to $11.5M, profit -76% to $800K. Blackstone buys IGI for $570M.
THE RAPAPORT PRICE LIST WILL NOT BE PUBLISHED ON MAY 26 DUE TO THE JEWISH HOLIDAY OF SHAVUOT.