De Beers Group has announced the value of rough diamond sales for the first sales cycle of 2024. The provisional rough diamond sales figure quoted for Cycle 1 represents the expected sales value for the period and remains subject to adjustment based on final completed sales.

Al Cook, CEO, De Beers Group, said: “Solid consumer demand for diamonds in the United States over the year-end holiday season has certainly helped to stabilise the industry and we are seeing polished diamond prices increasing again. Combined with the restart of rough diamond imports into India, this has led to demand for rough diamonds increasing substantially in the first sales cycle of 2024. However, as the prospects for economic growth in many major economies remain uncertain, we expect that it may take some time for rough diamond demand to fully recover.”