Russia's Rough Exports Increased by 21.5% in 1Q

Moscow: Russia’s natural rough diamond exports increased 21.5 percent on the year to 12.01 million carats in the period from January to March, the Finance Ministry said on Monday. Diamond imports dropped 2.6 times in carat terms to 8,040 carats. In monetary terms, Russia’s diamond exports rose 20.6 percent to $1.41 billion while imports halved to $16.5 million, PRIME reports.

Belgium accounted for over 65% of the total Russia’s diamond exports having procured 7.87 million carats worth $923 million. The other major destinations of Russian diamonds were India (2.45 million carats), UAE (948,000 carats), Israel (322,000 carats) and China (154,000 carats).

China, U.K. and Belgium are the main suppliers of natural rough diamonds to Russia accounting for 40%, 28% and 18% of the total imports, accordingly. For the period in report China supplied 3,200 carats worth $9.6 million, the U.K. supplied 2,300 carats valued at $52,000 and Belgium supplied 1,400 carats worth $5 million.

Russian diamond mining giant ALROSA mined 7.9 million carats of diamonds in the first quarter of 2014, up 6 percent on the year. Rough diamond sales in January – March 2014 totaled 12.7 million carats, including 9.5 million carats of gem quality diamonds sold at $155 per carat and 3.2 million carats of industrial diamonds at $12 per carat.