Monday, October 08, 2007

Russia’s H1 Rough Diamond Exports $1.6 Billion

Russia exported 22.531 million carats of rough diamonds with a stated value of $1.583 billion in the first six months of the year, an average of $70.26 per carat, according to data released by the Ministry of Finance.

The information is based on Kimberley Process certificates issued by the country. Russia has only recently met its obligation to make this information public.

Rough diamond exports to the EU were 4.276 million carats worth $309.53 million in the first quarter of the year ($72.39 p/c), with another 4.802 million carats valued at $374.37 million exported during the second quarter ($77.96 p/c).

The rest of the exports – 6.692 million carats worth $420.35 million in the first quarter and 6.761 million carats worth $478.553 million in the second quarter – were exported to Belarus, Belgium, UK, Israel, India, China, UAE, the U.S., Ukraine and Japan.

Russia also imported some rough diamonds during the January - July period, apparently mostly industrial grade. Imports of 103,040 carats worth $639,322 from the EU were an average of $6.21 p/c.

Imports from Belgium, UK, Israel, Congo, the U.S., Sierra Leone and Japan of 105,115 carats carried a value of $4.03 million, averaging 38.34 p/c.

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