James Allen News Center

Enough rough diamond in pipeline, Israel Diamond Institute states

The Israel Diamond Institute disputed this week that there is not enough rough diamond in the pipeline to meet demand.

The institute stated that there is no shortage of rough diamond, and that there is "plenty" of polished diamonds. They noted that manufacturers have an accumulated stock of approximately $14-17 billion.

The institute asked that producers do not use tenders and auctions. They claimed that these events hurt manufacturers and in the long-run, the producers themselves.
 
Rough diamonds do not have any value without the manufacturers, the institute noted, and these need to receive a steady rough supply according to periodic, fixed sorting.
The institute stated that only under those conditions can suppliers commit to chains and stores, and guarantee that the rough they produce will be worth something to customers in the jewelry shops.