De Beers‘ rough diamond sales plunged to $380 million in the fourth sales cycle of 2024, down from $479 million in the same period last year and $446 million in the third cycle of this year, Rough & Polished reports.
CEO Al Cook attributed the decline to the typically slower second quarter and reduced trading activity in India due to the elections.
“The focus of the global diamond industry now turns towards the JCK jewellery show in Las Vegas at the end of May,” Cook stated. “Demand trends in the US are expected to be driven by short-term macroeconomic issues but supported in coming years by a recovery in engagements as the after-effects of pandemic lockdowns fade.”
