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The analysis of the diamond industry identifies 2019 as a pivotal year in restructuring the market. Image: Snapshot of pipeline chart <b><a href="http://idexonline.com/FullArticle?Id=46222"> View chart in full with report - click to download now.</a></b>
The analysis of the diamond industry identifies 2019 as a pivotal year in restructuring the market. Image: Snapshot of pipeline chart View chart in full with report - click to download now.

New diamond industry report released

A new report exploring the restructuring of the diamond trade over the course of 2019 and 2020 has been published, delving into the macroeconomic and industry-specific factors influencing the trade from mine to market. 

Authored by diamond industry analysts Pranay Narvekar and Chaim Even-Zohar – who have previously contributed to Jeweller – the report The 2019 Pipeline: Prelude to the Storm details how the diamond market has switched from being largely supply-driven to a demand-focused model.

Chaim Even-Zohar and Pranay Narvekar, diamond industry analysts
Chaim Even-Zohar and Pranay Narvekar, diamond industry analysts
“The diamond pipeline has, for the first time in almost 100 years, become truly demand-driven – at each and every level”
Chaim Even-Zohar and Pranay Narvekar

“The diamond pipeline has, for the first time in almost 100 years, become truly demand-driven – at each and every level of the pipeline,” Narvekar and Even-Zohar write.

“It has become a normal competitive industry not any more driven by the rough supply side.”

» Click to view full chart and download PDF of report

Calling the shift “a most desirable conclusion for the midstream” of the diamond industry – that is, cut-and-polishing operations in India, and polished diamond traders – Narvekar and Even-Zohar predict that the restructuring process will lead to an industry that is “structurally not only more competitive, but also much healthier”.

While the analysts identify 2019 as the turning point for change – describing it as a “gap year”, with stock levels clearing amid falling prices and sales, ahead of a predicted steady recovery – they also explored demand shifts in 2020 as a result of COVID-19.

Indeed, the expected improvement in sales and prices failed to materialise this year as the pandemic unfolded, yet Narvekar and Even-Zohar conclude that the fundamental shifts initiated last year have ultimately left the diamond industry in a stronger position.

The full report The 2019 Pipeline: Prelude to the Storm, is available to read at IDEX Online.

 

More reading:
Coronavirus roughs up diamond industry
India's rough choice: an import moratorium?
De Beers ‘Fire in the hole’

 











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