International Rough Diamond Week from April 12

Shmuel Schnitzer
Shmuel Schnitzer

Ramat Gan: The Israel Diamond Exchange (IDE) will hold its second International Rough Diamond Week (IRDW) from April 12-16, 2015, with a series of rough diamond tenders by Alrosa, De Beers Auction Sales, Rio Tinto Diamonds, I Hennig/ Fusion Alternatives and Tzoffey’s.

“In 2014, Israel’s rough diamond trade passed the $5 billion mark,” said IDE Deputy President Arnon Juwal, who heads the IRDW organizing committee. “Our goal for the Israeli diamond industry and trade is to increase significantly rough diamond supplies to our manufacturers. Israel is a leader in the cutting and polishing of fancy shapes, in all sizes and qualities, as well as of natural fancy color diamonds in larger sizes. Our expertise, technological prowess and skills in these product categories are unmatched. We need more rough and the appropriate rough to enable significant growth in these, as well as other categories.”

Juwal added that at the same time, Israeli companies employ thousands of cutters in low-wage centers who cut diamonds to the exacting standards of their Israeli employers. “We are an industry with a global presence that serves a global market. To grow, we need to secure more rough and the International Rough Diamond Week will hopefully offer options for our members to increase their rough purchases,” Juwal said.

Israel Diamond Exchange President Shmuel Schnitzer said the bourse is consistently and continuously seeking to bring more rough supplies to Israel. “The International Rough Diamond Week is one of the tools we are using to attract rough diamond producers and suppliers to the country. I have no doubt that via these initiatives and other efforts, we strengthen Israel’s position as the world’s most versatile and dynamic diamond trading hub. Rough diamond trading is an essential component of our industry’s vitality,” Schnitzer concluded.