Chennai: Diamond prices have moved up by up to 20 per cent in 2021 with the demand for jewellery rising in key markets. Prices of both rough and polished diamonds had remained stable in the pandemic-hit 2020 despite a fall in demand. Restricted mining and production of polished goods had kept the pipeline stable throughout the year.
However, with demand rising in 2021, the prices have started moving up. “Prices are strong for both rough and polished diamonds. They have moved between 5 to 20 per cent depending upon the caratage. The bigger carat diamonds have heated up more,” said Sachin Jain, managing director, De Beers India.
The US and Chinese markets have been driving the demand as well as prices.
As per Edahn Golan Diamond Research and Data, US jewellery sales advanced 41 per cent between January and May 2021 to $32 billion, up from $22.7 billion in the same period of 2019. In July, Chinese jewellery sales too have improved by 14.3 per cent.
“Exports growth…