• BSB’s net profit jumps 230%July 9, 2025
    Delivers P76.8m net profit from P23.3m   RelatedPosts BSB’s net profit jumps 230% BPP feasting on the BDP CEOs face axing STAFF WRITER editors@thepatriot.co.bw   Botswana Savings Bank (BSB) has hailed its bold three-year strategy – Lesedi 2022-2025 –… Read more: BSB’s net profit jumps 230%
  • BPP feasting on the BDPJuly 8, 2025
    Welcomes defecting BDP members Ex-minister Makgalemele dumps BDP to join BPP Motive of some seen as opportunistic BAKANG TIRO editors@thepatriot.co.bw RelatedPosts BSB’s net profit jumps 230% BPP feasting on the BDP CEOs face axing A strategic partner in the… Read more: BPP feasting on the BDP
  • STRIDES FOR SUCCESS: VACANICESJuly 7, 2025
    RelatedPosts STRIDES FOR SUCCESS: VACANICES FARM TRAQUAIR : FARM WORKER UNIVERSITY OF BOTSWANA : Professor in Sociology
  • FARM TRAQUAIR : FARM WORKERJuly 7, 2025
    RelatedPosts STRIDES FOR SUCCESS: VACANICES FARM TRAQUAIR : FARM WORKER UNIVERSITY OF BOTSWANA : Professor in Sociology
  • UNIVERSITY OF BOTSWANA : Professor in SociologyJuly 7, 2025
    RelatedPosts STRIDES FOR SUCCESS: VACANICES FARM TRAQUAIR : FARM WORKER UNIVERSITY OF BOTSWANA : Professor in Sociology
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
  • Login
  • Register
Friday, July 11, 2025
17 °c
Gaborone
21 ° Tue
22 ° Wed
24 ° Thu
26 ° Fri
The Patriot On Sunday
Subscribe
Advertisement
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
Cart / $0.00

No products in the cart.

  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders
No Result
View All Result
The Patriot On Sunday
No Result
View All Result
Home Business

Small diamonds’ sale challenging

patriot by patriot
January 17, 2021
in Business
242
0
491
SHARES
1.4k
VIEWS
ShareShareShare

But De Beers declares: “Situation with the smaller, lower value diamonds looks to be improving”   

The sale of Meele diamonds – small less valuable natural occurring diamonds – has proved ‘challenging’ for De Beers Group of Companies for 2018.

RelatedPosts

BSB’s net profit jumps 230%

Rough diamonds turbulence

BVI ships over 500 000 doses of FMD vaccines to SA

One of the reasons for the difficulty in pushing Meele stock is the flooding of the market by an Australian Argyle miner in the last three months of 2017. The miner naturally produces high volume of Meele diamonds and recorded high production during the last quarter of 2017.

“This has also been in part due to a very challenging Rupee-Dollar exchange rate for Indian diamond businesses,” said De Beers on another factor that contributed to the decline in sales of Meele diamonds.

Indian diamond buyers, some of which are De Beers Sightholders, usually buy in Dollars but sell in Rupees, meaning that they are very sensitive to significant weakening of the Rupee against the Dollar. However, De Beers reassures that the supply situation is expected to continue to ease, and the Rupee has strengthened somewhat against the Dollar since the most challenging point earlier in the year.

The company would not be enticed to disclose how much it lost due to the challenges alluded to above price as policy does not allow the disclosure of information on price movements outside of information on average price index changes at half year financial reporting.

Responding to a query on whether the addition of three new mines in 2017 brought global rough production to its highest level since 2008 resulting in the excess supply, De Beers said the higher supply is also set against record consumer demand for diamond jewelry last year, coupled with conditions being supportive of further growth for 2018.

“This demand growth has been supported by De Beers Group’s growing marketing investment. Last year the investment in consumer marketing for diamonds was the most in a decade, and we will be investing even more again this year, around $170 million,” said De Beers.

De Beers said it is also responding to the challenges which have resulted from economic issues and third party supply by initiating a specific marketing campaign in India focused on consumer demand for products containing melee diamonds. It is also optimistic of the Meele diamond situation and believes it to be improving. The company cites encouraging signs for US consumer demand for diamond jewelry, which would further assist the situation.

Patriot Business’ interrogation of the topic was sparked by a recent Rapaport Research Report that announced that there was a sharp decline in prices of small, low-value diamonds that will exert further pressure on India’s manufacturing sector.

According to the report, prices in some categories have dropped by up to 20% in 2018 due to an over-supply and weaker demand.

Related

Tags: De Beersdiamond

Get real time update about this post categories directly on your device, subscribe now.

Unsubscribe
Previous Post

‘We will remove Mogwera’

Next Post

Cpt Phatsima promotes STEM careers

Related Posts

BSB’s net profit jumps 230%
Business

BSB’s net profit jumps 230%

July 9, 2025
Rough diamonds turbulence
Business

Rough diamonds turbulence

July 7, 2025
BVI ships over 500 000 doses of FMD vaccines to SA
Business

BVI ships over 500 000 doses of FMD vaccines to SA

July 2, 2025
BTCL enjoys strong growth
Business

BTCL enjoys strong growth

June 30, 2025
From tenderpreneurship to true entrepreneurship
Business

From tenderpreneurship to true entrepreneurship

June 27, 2025
Digital Public Infrastructure as a Strategic Imperative
Business

Digital Public Infrastructure as a Strategic Imperative

June 27, 2025
Next Post
Cpt Phatsima promotes STEM careers

Cpt Phatsima promotes STEM careers

Please login to join discussion
  • BSB’s net profit jumps 230%July 9, 2025
    Delivers P76.8m net profit from P23.3m   RelatedPosts BSB’s net profit jumps 230% BPP feasting on the BDP CEOs face axing STAFF WRITER editors@thepatriot.co.bw   Botswana Savings Bank (BSB) has hailed its bold three-year strategy – Lesedi 2022-2025 –… Read more: BSB’s net profit jumps 230%
  • BPP feasting on the BDPJuly 8, 2025
    Welcomes defecting BDP members Ex-minister Makgalemele dumps BDP to join BPP Motive of some seen as opportunistic BAKANG TIRO editors@thepatriot.co.bw RelatedPosts BSB’s net profit jumps 230% BPP feasting on the BDP CEOs face axing A strategic partner in the… Read more: BPP feasting on the BDP
  • STRIDES FOR SUCCESS: VACANICESJuly 7, 2025
    RelatedPosts STRIDES FOR SUCCESS: VACANICES FARM TRAQUAIR : FARM WORKER UNIVERSITY OF BOTSWANA : Professor in Sociology
  • FARM TRAQUAIR : FARM WORKERJuly 7, 2025
    RelatedPosts STRIDES FOR SUCCESS: VACANICES FARM TRAQUAIR : FARM WORKER UNIVERSITY OF BOTSWANA : Professor in Sociology
  • UNIVERSITY OF BOTSWANA : Professor in SociologyJuly 7, 2025
    RelatedPosts STRIDES FOR SUCCESS: VACANICES FARM TRAQUAIR : FARM WORKER UNIVERSITY OF BOTSWANA : Professor in Sociology
The Patriot On Sunday

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

Navigate Site

  • About Us
  • Advertise
  • Disclaimer
  • Contact Us

Follow Us

Welcome Back!

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Login
  • Sign Up
  • Cart
  • Home
  • News
  • Business
  • Lifestyle
  • Sport
  • Analysis & Opinions
  • Vacancies & Tenders

© 2024 Copyright The Patriot On Sunday - Inspired by Search Mart.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
Are you sure want to unlock this post?
Unlock left : 0
Are you sure want to cancel subscription?