Morning Bites

💎India’s rough diamond net imports declined 43% YoY in March, a reversal from the 8% YoY gain in February, per GJEPC data. Meanwhile, polished diamond net exports also dropped 43% YoY. Synthetic rough diamond net imports jumped 33% YoY. Lab-grown net rough imports accounted for 10% of total trading in value terms

Rapaport reports that the ongoing conflict in the Middle East has disrupted diamond trading in the UAE and Israel (major hubs), with some auctions being postponed. We maintain our view that it might take time for the global diamond market to recover, especially given risks to supply discipline in 2026

India accounts for ~95% of the world's polished stone supply

#diamonds