According to preliminary data of the Council to promote the export of precious stones and jewelery (Gem & Jewellery Export Promotion Council, GJEPC) of India, the total volume of exports of gold jewelry (such as precious stones or without them) fell by 35% in November 2016, to $ 547.5 million, against $ 844.67 million in the same period last year.
The total volume of exports of the country's jewelry segment in November 2016 amounted to $ 2? 47 billion, which is 20.4% lower than a year ago to $ 3.11 billion. Exports of gold medallions and coins fell to $ 319 million, versus $ 472.5 million a year earlier.
The export of silver jewelry from India fell in November to $ 256.26 million from $ 370.69 million a year earlier.
Exports of colored gemstones from India in November was $ 24.44 million versus $ 25.06 million in the same period last year.
During April-November 2016 (from the beginning of the tax period), total exports of India jewelry sector rose by 10.9%, to $ 28.79 billion, compared with $ 25.96 billion in the same period a year earlier.
At the same time export gold jewelery (such as precious stones or without them) has increased by 12% to $ 6.09 billion and medallions and coins exports fell 5.37% to $ 3.48 Bln.
However, the export of silver jewelry from India grew by 16.37% in April-November 2016, to $ 2.37 billion, while exports of colored gemstones fell by 7.48% to $ 265.06 million.
the weaker performance jewelery industry explained by the closure of the Indian diamond cutting enterprises to celebrate Diwali festival in November, as well as the decision of the Indian authorities to stop the circulation of banknotes Nominal Lamy 500 and Rs 1,000.
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Restoration of diamond prices after a 15 percent drop will require a half or two years, in 2015, the head of "ALROSA" Andrei Zharkov.
"We expect stabilization in the market in 2016, but in any case the price recovery will require a half or two years", - he said in an interview the agency Yakut "Yakutiya24".
In the 1st quarter of this year miners sales increased, reflecting the market transition to a restocking phase. Revenue from sales of diamonds "ALROSA" for January-March 2016 - at least $ 1.3 billion (previous year - $ 1.1 billion). Meanwhile, in April, a Russian company for the first time since September has lowered the prices (1-2%) in its trading session with long-term customers. De Beers has also improved performance in January and February and April (in March was not the site), but CEO Filipp Mele warned about entering the market during the seasonal weakening.
Zharkov said that the conditions in 2015, the sales system to falling demand in the market for long-term contracts that guarantee the company's customers and stable volumes of supply and protect against price volatility, reaffirmed its effectiveness.
66% of rough diamonds were sold in 2015 on such contracts. During 2015 the number of long-term clients, ALROSA has increased from 47 to 54, including the first long-term contracts for the supply of industrial diamonds were made.
As noted by A. Zharkov reaction "ALROSA" a complicated situation may be a revision of the forecast of production volume in the current year - from 39 to 37 million carats.
Sanctions against Russia not directly affected "ALROSA", he reminded the president of the company, with market participants from Belgium, the world's main diamond center lobbied for the rejection of the application of such measures in respect of the Russian diamond miner. "When the situation in Ukraine escalated, more than others were nervous at the diamond exchange in Antwerp, where the offices of traders, jewelers and retailers. As far as we know, the Belgian officials even appealed to the European Commission asking them not to touch the diamond sector in the event of extension of sanctions against Russia. After all," ALROSA 'supplies Antwerp quarter of the volume of rough diamonds is why our company, as well as the Russian diamond industry as a whole, the existing sanctions are not directly affected. ", - said Alexander Zharkov.
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