Dubai scores with import and export of roughs

With its recent figures of diamond exports and imports, Dubai seems to be the next most sought after hub for sourcing diamonds. Its rough diamond imports increased by 26 percent valued at US$937 million during the first six months of this year. Exports crossed US$1.3 billion owing to a 12 percent increase. Also, 43.6 million carats were traded in the same time period compared to 39.8 million in the corresponding months of 2006.

The Dubai Diamond Exchange (DDE), a subsidiary of the Dubai Multi Commodities Centre (DMCC), noted the overall trade in roughs amounted to US$2.24 billion, a 17 percent higher value than the US$1.91 billion trade of the first half of 2006. Russia and Angola are encouraging the local market with direct imports of roughs.

According to Youri Steverlynck, Chief Executive Officer of DDE, the value-added efforts of DDE to further the local market is seeing positive response in strengthening the dependability of this market as an emerging major source for roughs.