Synthetics add to diamonds’ difficult year
Tuesday, August 22, 2023 | 1000 Views |
Shining bright: Natural diamond producers are confident in the long term value of the gemstone
Retail and consumer data analytics consultancy, Tenoris, this week released a report that, under normal circumstances, should raise eyebrows in the diamond industry.
According to the firm, in July, after months of gradually nearing each other, natural and lab grown unit sales in the United States market reached a 50/50 share for the first time. The US is the world’s foremost market for diamond jewellery, accounting for 54% of a pie estimated at beyond $80 billion annually.
Acting Agriculture Minister, Edwin Dikoloti, is right in saying opening an export-ready facility whilst Foot and Mouth Disease (FMD) is still spreading would risk getting the whole country blacklisted before a single carcass leaves the door.A ban like that would break the already stressed nation. So, the postponement, painful as it is, is the right thing to do. The local economy is being squeezed from both ends. FMD has already slammed the door...