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Okavango’s rough diamond sales rise 23% in H1
Company notes Q1 to have been months of replenishing stocks
By: Diamond World News Service
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Jul 15 2016 9:58PM
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Reference: 13234  

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Okavango Diamond Company (ODC) clocked an increased revenue from rough diamond sales in the first half of 2016. The company’s said sales increased 23 percent on y-o-y basis to reach US$ 284 million, reports add. The increase was also witnessed in the volume of rough diamond sales, which rose 35 percent to 1.75 million carats.

The company noted that the first quarter of the six months, allowed for a surge in sales, as then was the time of replenishment of stocks by manufacturers, following the encouraging US holiday sales. The second quarter reflected a soft demand and prices dipping, reports say.

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