DiamondBuzz
US diamond demand is steady especially large diamonds 2 cts and higher
The diamond market is seeing mixed activity across the globe, driven by holiday shopping in the US and traditional shutdowns in India.
Key Market Activity
- United States (US): Demand is steady as the holiday season approaches. Shoppers are especially keen on large diamonds (2 carats and up), with long, slim fancy shapes being the most popular.
- International Trading: Global trading centers are quiet due to recent Jewish holidays.
- India: The market is slow due to two main reasons:
- New US taxes (tariffs) are slowing down exports.
- Factories are ramping up production before the major Diwali holiday break.
- Trade Numbers (September): India’s raw diamond imports went up by 19% (to $\$924$ million), and its finished diamond exports rose by 6% (to $\$1.4$ billion).
- Luxury Sales: LVMH, a major luxury group, saw its stock rise after reporting that watch and jewelry sales were up 2% in the third quarter.
Diamond Shape Trends (Fancies)
Long, non-round diamond shapes—known as “fancies”—are selling better than traditional round diamonds in 2-carat and larger sizes.
- Most Popular Shapes: Oval, Marquise, and Emerald cuts are in high demand.
- High Premiums for Long Shapes: Long Cushions are easy to sell and cost 20% to 25% more than square Cushion cuts.
- Shape Value: Marquise cuts are the most expensive of the fancy shapes. In the US, Ovals cost 5% to 10% more than Pear shapes.
- Quality is Key: Diamonds that are cut very well are hard to find and sell for higher prices (premiums). Shapes with poor proportions are difficult to sell.
DiamondBuzz
Botswana Looks Beyond Rough Diamond Sales, Eyes U.S. Jewelry Market
The Duty Exemption By US Presents An Opportunity For Domestic Jewelry Manufacturers In Gaborone To Bypass Traditional Middle-Market Hubs and Establish A Direct Pipeline To American Consumers
Grappling with a painful downturn in global rough-diamond demand, Botswana is pivoting its economic strategy: expanding up the supply chain directly into American retail shelves while leveraging its resource wealth to fund conservation and diversification.
Speaking on the sidelines of New York Climate Week, Bogolo Joy Kenewendo, Botswana’s Minister of Minerals and Energy, highlighted the southern African nation’s plan to capitalize on a 0% import-tariff rate to the U.S. market. The duty exemption presents an opportunity for domestic jewelry manufacturers in Gaborone to bypass traditional middle-market hubs and establish a direct pipeline to American consumers.
shift The push into value-added manufacturing comes as the world’s top diamond producer by value navigates a broader structural Diamond revenues have long formed the bedrock of Botswana’s post-independence balance sheet, underwriting universal secondary education and tuition-free university funding. However, recent market volatility has underscored the vulnerabilities of a mono-sectoral economy.
Under the Botswana Economic Transformation Programme (BETP)—an initiative spearheaded directly by President Duma Boko and his vice president—the government is directing resources toward manufacturing, agriculture, and broader mining sectors to reduce its heavy reliance on rough diamond sales.
To support its luxury exports, Botswana is recalibrating its brand narrative around origin, environmental stewardship, and social impact. The country recently announced a five-year extension of the “Okavango Eternal” partnership alongside De Beers Group and the National Geographic Society. The initiative aims to protect the ecological integrity of the Okavango River Basin while tying diamond purchases to conservation efforts.
With De Beers currently facing an impending ownership change, officials remain optimistic that any capital restructuring could bring additional funds into Botswana to accelerate its domestic economic transition.
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