Indian Buying For Early Diwali Fuels $572M De Beers Cycle 6 Sales
De Beers today announced that it had provisionally sold a total of $572 million in rough diamonds through its sixth sales cycle of this year. This is nearly 8 percent higher than the $528 million sales figure for the sixth cycle of 2016.
De Beers also said that the actual sales figures for the 5th cycle this year now stood at $541 million.
Chief Executive Bruce Cleaver said, “The sixth sales cycle of the year maintained the trend of consistently good demand for De Beers rough diamonds across the product range.”
He added, “With Diwali being earlier than normal in 2017, we saw some demand from Indian diamantaires pulled forward from Sight 7. This was due to these customers needing to make rough diamond purchases in sufficient time to complete their polishing before the holiday begins.”