 2008 is likely not to bring good cheer to people shopping for diamonds, as a shortage of rough diamonds is causing an increase of price around 25-30%. Diamond Trading Company (DTC), based in London, the largest supplier of rough diamonds, is cutting 11 Indian suppliers from 2008-11. This could make rough diamond sourcing hard for India, which is one of the top suppliers in the world. Retail diamond prices are expected to shoot up 5-10%. Big diamonds could increase 30%. The decision by DTC means that only 75 of 94 firms that normally are supplied with rough diamonds with be so supplied in 2008. This move promises to consolidate the diamond business in a few hands. Small and medium companies that depend upon rough diamond supplies via intra-trade dealings with sight holders will decrease. Manufacturing activity could be affected and could cause significant unemployment in the industry. There also are plans to launch the Forever mark jewelry in the future.
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