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Alrosa suspends diamond sales for two months — GJEPC

The decision reportedly comes amid concerns about the diminishing demand for diamonds in international markets, leading to disruptions in factory operations

MOSCOW, September 20. /TASS/. Alrosa diamond producer has suspended sales of rough diamonds for September and October due to low demand at the request of India's Gems and Jewelry Export Promotion Council (GJEPC), the Council reported.

"This decision comes amid concerns about the diminishing demand for diamonds in international markets, leading to disruptions in factory operations and a reduction in resource allocation," GJEPC says.

In the letter GJEPC refers to, Alrosa notes that with the ongoing trend of declining demand, this decision will help prevent overstocking.

"Alrosa has called upon all industry partners, including diamond mining companies, cutting facilities, and jewellery retailers, to adopt a similar responsible stance towards rough diamond purchases and sales. This collective effort aims to enhance confidence within the industry and strengthen relationships among all stakeholders," GJEPC says.

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