The latest provisional data released by De Beers shows that cycle nine diamond sales were US$440 million, down 5.6 per cent from US$466 million Y-O-Y. The figure is likewise a drop on the eighth cycle, which reported sales of US$482 million.

Bruce Cleaver, CEO, De Beers Group, said: "As the industry’s focus turns towards the key end of year retail selling season, rough diamond sales continued to be in line with expectation during the ninth cycle of the year. While demand for smaller, lower quality rough diamonds continues to see some challenges, the latest cycle saw some signs of improvement in this area as factories in India begin to reopen after Diwali."