mmegi

Diamonds enter make or break period for 2023

Better days: Diamonds are facing pressures unseen in the market in at least four years
Better days: Diamonds are facing pressures unseen in the market in at least four years

The next few months will be critical for the direction of rough diamonds and the country’s economy, after a year described as “delicate and unprecedented” in which prices fell by more than 20% while tepid demand threatens to derail the post-pandemic recovery.

Traditionally in the diamond industry, the period between Thanksgiving in the United States and the Chinese New Year, represents the peak retail selling period every year.

Healthy demand for diamond jewellery and stones in key markets such as the US is more critically required this year, as the crisis building for rough producers such as Botswana has partly been caused by high inventory levels of polished diamonds in the midstream.

Editor's Comment
A collective responsibility to end FMD spread

As cases continue to threaten herds and rural livelihoods, one simple but critical action can make a powerful difference: strictly adhering to FMD regulations, including refraining from slaughtering cloven-hoofed animals.Cloven-hoofed animals, such as cattle, sheep, goats, and pigs, are highly susceptible to FMD. Slaughter, especially during outbreaks or restricted periods, significantly increases the risk of spreading the virus through...

Have a Story? Send Us a tip
arrow up