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RAPAPORT… Global rough-diamond production increased in 2017, mainly
due to new mines in Canada, according to data the Kimberley Process (KP)
released last week.
Total output rose 29% to $15.87 billion last year, the KP
said. By volume, production grew 19% to 150.9 million carats, with the average
price up 8% to $105 per carat.
Russia remained the largest producer of rough in 2017, its
output jumping 15% to $4.11 billion, and advancing 6% by volume to 42.6 million
carats.
Diamond recovery in Canada grew 47% to $2.06 billion, with volume
up 78% to 23.2 million carats, thus overtaking Botswana as the second-largest
producer country by volume. Canada’s production was boosted by the addition of
the Gahcho Kué and Renard mines, which both launched in late 2016. Meanwhile,
Botswana’s output rose 17% to $3.33 billion, and by volume climbed 12% to 23
million carats.
South Africa took the third spot for production value, with
a 147% surge to $3.09 billion, helped by a sharp rise in the average price by
113% to $319 per carat.
Global rough imports increased 3% to $49.85 billion for the
year, with total volume up 28% to 489.9 million carats. The average price of
imports dropped 20% to $102 per carat. India ranked as the largest importer of
rough diamonds during the year, with inbound shipments rising 31% to $18.98
billion, while volume increased 40% to 195 million carats. The European Union (EU) —
mainly Belgium — took the second spot, with the United Arab Emirates (UAE) following
in third place.
Exports of rough diamonds went up 3% to $49.94 billion, and
by volume rose 18% to 453.6 million carats. The overall average price of rough
exports fell 13% to $110 per carat. Exports from the EU fell 3% to $12.68
billion but leaped 27% by volume to 129.2 million carats, making it the largest
center for outbound shipments, followed by the UAE, Botswana and
Russia.
Top 10 Rough Producers in 2017
| Country | Value ($M) | Volume (’000 carats) | Average price ($/ct.) |
| Russia | $4,112 | 42,615 | $97 |
| Botswana | $3,329 | 22,961 | $145 |
| South Africa | $3,089 | 9,683 | $319 |
| Canada | $2,060 | 23,234 | $89 |
| Angola | $1,105 | 9,439 | $117 |
| Namibia | $1,011 | 1,948 | $519 |
| Lesotho | $343 | 1,126 | $304 |
| Australia | $200 | 17,135 | $12 |
| Zimbabwe | $175 | 2,508 | $70 |
| DR Congo | $157 | 18,903 | $8 |
Top Five Rough Importers in 2017
| Country | Value ($M) | Volume (’000 carats) | Average price ($/ct.) |
| India | $18,977 | 195,004 | $97 |
| European Union | $12,183 | 159,800 | $76 |
| United Arab Emirates | $6,925 | 86,904 | $80 |
| Israel | $3,658 | 10,065 | $363 |
| Botswana | $1,983 | 10,706 | $185 |
Top Five Rough Exporters in 2017
| Country | Value ($M) | Volume (’000 carats) | Average price ($/ct.) |
| European Union | $12,677 | 129,158 | $98 |
| United Arab Emirates | $9,757 | 88,379 | $110 |
| Botswana | $5,548 | 33,319 | $167 |
| Russia | $4,429 | 45,950 | $96 |
| Israel | $3,011 | 8,731 | $345 |
Source: Kimberley Process
Image: Alrosa
