Subdued 2011 awaits cutting and polishing firms

Tuesday, April 05, 2011

Experts believe 2011 will be yet another year of poor profitability for the country's 16 polishing and cutting firms as their margins remain stifled by the widening gap between rough diamond and polished prices.

The price imbalance, which was triggered by the recession in late 2008, means the firms pay more for rough diamonds than they are able to sell them for to jewellers after they cut and polish them.

Experts have explained that while the recession dropped both rough and polished prices, the former had recovered faster and to higher levels than the latter, eroding margins and pushing firms into the red.

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Subdued 2011 awaits cutting and polishing firms

Experts believe 2011 will be yet another year of poor profitability for the country's 16 polishing and cutting firms as their margins remain stifled by the widening gap between rough diamond and polished prices.

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