State Diamond Trader may increase rough purchase

As per industry reports, South Africa's State Diamond Trader is optimistic about increasing its diamond rough purchase by almost three times in 2009, although depending on the economic situation and the response of the diamond sector.

The views of the company do show a streak of hope, against the diamond producers slashing their rough diamond supplies recently, due to the economic recession and slackening demand in major markets.

The State Diamond Trader is expecting to purchase about 10 percent of diamonds from all diamond producers, which would amount to around 1.5-million carats of roughs valued at $150 million. It currently purchases 3 percent of the diamonds produced in the country.