International diamond mining company De Beers increased diamond sales by $44 million in the tenth business cycle of 2023 compared to the previous period. This is proven by: report It was published on the company’s website.
In the cycle that began on October 4 and ended on November 3, $130 million worth of diamonds were sold, compared to $86 million worth of diamonds sold from November 9 to December 19. On an annual basis, sales fell 3.2 times. In the same period of 2022, this figure was 417 million dollars.
According to De Beers CEO Al Cook, the company is adapting its diamond supply to current demand. He drew attention to the upcoming holiday season, on the eve of signs that the balance between wholesale diamond supply and diamond demand has been re-established.
Cook previously gave an interview to Financial Times magazine. reportedHe said he did not understand how the European Commission planned to track diamonds mined in Russia as part of the export ban in the 12th sanctions package. According to him, the average customs officer could not look at one diamond and tell another one was Russian, even if he wanted to.
Formerly the world’s largest diamond producers reported about the desire to restore the prices of precious stones.