Fall in the diamond jewellery consumption was reported as per the De Beers Insight Report 2016, which is the world largest producer of diamond. The fall was considered to be because of the decrease in the interest among the consumers to spend on this most valuable mineral. The strike by the jewellers also accounted for the fall of the consumption of the diamond jewellery.
Demand is expected from the world largest consumer base in India and China in the next ten years for diamond business to catch up its pace towards growth. De Beers has been over-burdened by increase in cost for production from mines which were deep.
De Beers Insight Report 2016 also quoted that there will increase in the consumer demand in the next ten years from countries like India, China and US.
This article was posted on 2016-09-15.