Russia’s Rough Exports -18% in First 9 Months ’15

Rough DiamondsMoscow: The Russian Federation exported 20.38 million carats of rough in the first 9 months of 2015, which is 17.6% lower than in the same period of 2014, according to the data based on Kimberley Process certificates published by the Ministry of Finance.

Russia’s rough exports reached 5.416 million carats in the third quarter of 2015 (down 28% year-on-year). In value terms, its exports slumped to $ 583 million or 1.7 times as less as last year. This estimate is based on the price list of Russia’s Ministry of Finance, where prices are to a great extent below the market, but it permits to size up both price fluctuations in the market and the quality of exported rough (given its carat amounts are equal).

ALROSA , which currently controls about 97% of Russian diamond production, reportedly sold 4.9 million carats in the third quarter of 2015 (having earned RUB 40.6 billion).

In the third quarter, the largest buyer of Russian rough both in terms of volume and value was Belgium (where Antwerp hosts the world’s largest diamond bourses), which purchased 3.59 million carats (down 27% compared with one year ago). India is in the second place having bought 1.024 million carats (a drop of 41%). Russia’s diamond export to Israel reached $ 59 million, although it was lower in terms of carats if compared with what had been shipped to the UAE (266,000 carats vs 573,000) and estimated at $ 32.4 million.

Rough imports to Russia decreased by 10% in the third quarter of 2015 going down to 7,250 carats estimated at $ 22.7 million (against $ 10.4 million in the previous year).