Market slow amid seasonal lull in US and India retail. Belgium quiet during Easter holiday. RAPI for 1 ct. -0.6% in Mar., reflecting weakness in VVS+ diamonds. SIs stronger. Rough prices stable at De Beers sight; buyers finding better prices at tenders and auctions. Polished buyers demanding exporters provide origin statements even for diamonds under 1 ct., beyond requirements of sanctions. Okavango becomes Natural Diamond Council’s first non-mining member. Rapaport publishes standards for source certification. Mountain Province 2023 sales -15% to $243M, average price -17% to $90/ct., loss of $32M vs. 2022 profit of $36M. Blackstone reportedly planning to list IGI on Indian stock exchange.

Clients in the US and Europe are demanding source declarations for diamonds that are currently exempt from sanctions, causing chaos in the Indian trade, industry officials told Rapaport News.

In the March-April issue of Rapaport Magazine, we look at how shapes like ovals, emeralds, cushions and pears are appealing to jewelry purchasers, and how prices compare with round brilliants. We also spotlight three cuts that have been capturing designers’ imaginations.

How can the diamond trade implement US sanction regulations effectively and efficiently without unnecessary harm to the US diamond industry?