Almas Resources: Emerging Diamond Producer

Israel’s Diamond Trade sees strong February

三月 10, 2021

‘RAPAPORT… Israel’s diamond exports improved in February amid steady jewelry demand in key retail markets and the opening of a trade channel with Dubai, according to government data.

Polished shipments out of Israel jumped 24% year on year to $251.6 million for the month, with volume increasing 20% to 122,784 carats, the country’s Ministry of Economy and Industry reported last week. Rough exports rose 21% to $124 million, while volume slipped 9% to 188,317 carats.

The ministry attributed the growth to higher demand for studded jewelry in the US and China. As for rough trading, 16% of exports were to the United Arab Emirates (UAE), with which Israel reached a peace deal in August, the government noted. Before that, Israel was unable to ship goods directly to Dubai, an important center for rough tenders. The improvement also came despite a February lockdown in Israel, which affected the availability of flights, the ministry pointed out.

“The industry has cause for optimism after a difficult year,” said Ophir Gore, Israel’s diamond controller. “The data that the global diamond sector has seen in the past two months — especially in the American diamond and jewelry market — indicate demand has recovered. The first half of this year is expected to be particularly positive for the industry.”’

Source – Rapaport www.diamonds.net

 

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