Russia’s diamond output had a small fall in 2009

The production level was noteworthy in wake of low diamond demand and economic slowdown
By: Diamond World

Diamond output at Russia, declined by 5.9 percent to 34.8 million carats in 2009, over its diamond output in 2008, which is noteworthy in the wake of low global diamond demand and economic slowdown, reports say. In reference to financial terms, last year the output dipped by 6.7 percent to $2.34 billion, as compared to $2.51 billion in 2008.

The first half of 2009 recorded production of 18.35 million carats or $1.2 billion worth of diamonds, and the second half production rose higher to 16.41 million carats worth $1.14 billion, reports add. The average price per carat in the first half was $65.43, while in the second half it increased to $69.48. On a year-wise basis, the average price per carat reached $67.34, as compared to $67.95 in 2008, reports say.

In 2009, Alrosa, the diamond mining company that produces 97 percent of Russia’s diamonds, had slashed its production by 11.1 percent to 32.8 million carats, reports add.

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