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Diamond Rough Shortfall Will Increase Prices.
Global demand for diamonds is outstripping the available supply over the next five years, and a worldwide shortfall in rough has been projected to reach $7 billion in value by 2012. According to U.K. analyst James Picton, that is roughly two thirds of last year’s global mine output. Over this interval, Picton also projected 30 percent price growth for rough to bring demand in line with supply.
Although new diamond mine exploration continues, when new productive mines will come online is a matter of conjecture. Right now prices for high quality rough are very high and pushing retail prices for polished diamonds consistently higher.
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