India's polished diamond exports to Japan climbed 8% in June y-o-y

NEW DELHI (Scrap Monster) : As per the figures published by the Japanese Ministry of Finance, the country’s polished diamond imports dropped sharply in June. On the other hand, exports from India to Japan climbed 8% during the period.

According to data, the Japanese polished diamond imports plunged by 18% during the month of June to $74.6 million. However in terms of volume, the country’s imports of polished diamonds totaled 243,497 carats,28% higher when compared to the volume of exports during June 2012. The plunge in net import value was attributed to the sinking prices. The average price of stones fell to $306 per carat.

The polished diamond exports by India to Japan touched $33.5 million accounting for almost 45% of the total imports by Japan during the period under consideration. The exports from India were up by 8%.

The Japanese imports from all major exporting countries except India recorded significant fall during the period. For instance, exports from Belgium dipped lower by nearly 33% year-over-year to reach $18.6 million. The exports from Israel too dropped sharply by 38% to reach $4 million. A drop of 19% was recorded in the exports of polished diamonds from Thailand. The total exports by Thailand to Japan amounted to $4.3 million.

The Japanese polished diamond exports during the initial six-month period from January to June totaled $410 million, down 7%. In terms of volume, the imports saw an increase of 28% to reach 1.17 million carats.