Covid-19 hits global diamond output, reports 23% decline year-on-year.

 

Surat : For the first time after more than a decade, the global diamond production dropped 31 million carats or 23% in 2020 from 138 million carats recovered in 2019.

According to the diamond statistics made public by the Kimberley Process Certification Scheme (KPCS), global diamond production plummeted 23% to 107 million carats in 2020, as mining companies cut back output amid the Covid-19 pandemic.

By value, diamond production in 2020 plunged 32% to $9.23 billion compared with $13.57 billion recorded in 2019, and averaged $86.25 per carat.

Last year, Botswana was the top diamond producer in value terms, with an output of 16.94 million carats worth $2.52 billion, averaging $148.8 per carat. Botswana’s diamond output fell 27% in value versus 2019.

Russia, meanwhile produced more diamonds than any other country in 2020 on a volume basis at 31.18 million carats valued at $2.25 billion, averaging $72.30 per carat. Russia’s output took a 45% hit by value year-on-year.

 

Ends