Dubai’s total rough diamond trade up 5% in H1 2013

According to the Dubai Diamond Exchange (DDE), in the first half of 2013, Dubai’s the total rough diamond trading (including both rough diamond exports and rough diamond imports), rose 5 percent (on y-o-y basis), to $6.2 billion, reports say. The volume of the said trading rose 11 percent to 66.4 million carats. The average price of the goods fell 5 percent to $93.37 per carat.

In the said six months, exports of rough diamonds increased 3 percent to $3.7 billion, while volume-wise it rose 12 percent to 34 million carats, reports suggest. The average price dropped 8 percent to $108.82 per carat.

Imports of rough diamonds increased 7 percent to $2.5 million. The volume of the same was 32.4 million carats, with an average price of $77.16 per carat.

The net rough exports (valued as rough exports less rough imports), dropped 4 percent to $1.2 billion, reports say.

Also, DMCC plans to open a diamond control office at DDE to accurately track and value Dubai’s trade in polished diamonds. Reports suggest. The office is expected to open by end-2013, and will operate under the authority of the DMCC, reports say.