diamond manufacturing firm india

Information about : diamond manufacturing firm india ,polished and rough diamonds ,diamond trade surat ,bridal and fashion jewellery surat ,diamond jewellery sales ,global diamond industry


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Price disparity(polished and rough diamonds ,diamond trade surat )

"Unbalanced" prices between rough and polished goods are the biggest cause of worry for the industry. Polished prices are continuing to soften particularly in better qualities. Industry sources estimate that polished sales in India and the Far East have fallen by around 25% with prices reducing by some 5-10%. Buyers in America have delayed their purchases as they expect the market to soften further which has compounded the liquidity issues. De Beers reduced its rough prices by 3% in its July sight and is clearly not aligning with current market conditions.

Ramesh Patel of Ratnakala Exports, a diamond manufacturing firm, said, "The current scenario for the diamond industry is very difficult and there is virtually no demand for diamonds, as a result of which, the polished inventory is increasing. There is a mismatch in the price of polished and rough diamonds. So invariably, Indian diamond companies are incurring losses."

Choosing to stay optimistic, Vipul Sutariya of Dharmanandan Diamonds said, "In recent months, market sentiment, particularly in the diamond trade, has been shaky. Yet, some industry members firmly believe that diamonds remain one of the most valued goods in the world, and that prices will only increase over the long term due to very limited supply. We at Dharmanandan Diamonds are very positive and passionate about the diamond business:'

He further added, "Currently, retail sales are a bit slow due to the summer break. We believe that market sentiment will be more positive once the buying season starts. Organised companies are not so affected by the currency fluctuation as they maintain stocks in US dollars. It is true that the last three major exhibitions Baselworld, JCK Las Vegas and the Hong Kong fair have not created much movement in the market. Responses were below expectations but ups and downs are an integral part of any industry".

Based on the feedback received from the market, there are fewer inventories in the retail pipeline; so naturally demand will escalate in the next couple of months. Last quarter will be good for the industry. Even in the current downturn certain goods in good colour are still moving well in the Asian market and S12 down in commercial colours in 0.20 2.00cts are moving fast in the US. Demand will be driven by bridal and fashion jewellery, industry experts noted.

Ashwin Navdiya, a local polished diamond trader operating from Mahidharpura diamond market, Surat, said, "Since the last three or four months polished demand has been slow, and we are facing difficulty in selling polished. Buyers are asking for unbelievable discounts on polished goods, which we cannot afford. Local buyers are holding back as the global supply chain is saturated. Polished prices have dropped considerably by around 20% in the local market. Small manufacturing units in Surat and Saurashtra are finding it difficult to survive; and many have been forced to shut down. Primarily, these small manufacturers have survived on job work, outsourced by larger manufacturers, who themselves have limited work."     that   trading conditions in the mid-stream are expected to remain challenging during the second half of the year. After a very strong first half in 2011, the difficult      Looking at the current scenario, trading conditions in the mid-stream are expected to remain challenging during the second half of 2012. If there are no unforeseen economic shocks, diamond jewellery sales are expected to see moderately positive growth. In the short term, the US, China, the Gulf and Japan are expected to contribute the bulk of the growth, while India and Europe are expected to remain weak.

Last year, Surat was flooded with  trading conditions experienced during the final quarter spilled over into the “The die-hard spirit of manufacturers in Surat will help tide over this difficult period. The reason is simple: they have faith in the fundamentals of the diamond industry as, in the long run, demand will continue to outstrip supply rough from Zimbabwe; the goods were priced competitively so it was profitable to manufacture, however, the Zimbabwean mining companies have since increased their prices. Nevertheless, imports will continue irrespective of the shrinking profitability due to the voracious appetite of the world's biggest cutting centre beginning of 2012. While overall consumer demand for polished diamonds remained relatively healthy, sightholder demand De Beers recently announced in its interim results for the first half of 2012 was impacted by increased stock in the cutting centres, tightening liquidity and challenging conditions in India. However, early indications are that the US market continued to perform well, and the Chinese market, while slowing considerably, still showed positive growth.

What is the current scenario in the global diamond industry? Is the production stagnant? If so, is it because of a shortage of labour?

The situation is not good right now. No, production is not stagnant, but it has reduced. With regard to labour, I think it is the other way around - there is shortage of work!

Has the rupee devaluation affected imports of rough? It definitely affects the trade, particularly those who have payables outstanding in dollar terms, and on the other hand, have already sold out in rupee terms. Secondly, due to such a strong devaluation of the rupee, polished goods in the Indian market have become very expensive, which has led to resistance from customers. As a result, sales have reduced drastically.

Is there a liquidity crunch?
Yes, all credit facilities provided by banks in India, are in rupee terms whereas the diamond business is always in US dollar terms. Hence, on account of the rupee having devalued by around 20% in the last few months, the available credit has also correspondingly reduced.

Are you foreseeing trouble ahead for the diamond industry?
No, despite such a situation, by and large, people are cautious. Looking at the quantum of business, there are very few cases of bankruptcy. If traders continue to work cautiously, which I am sure they will, there should not be any major problems.


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