DeBeers to rollback return facility next month as scene improves

After changing its policies by letting authorised buyers or sightholders return 2 to 30 per cent of rough diamonds sold to them in October-November, DeBeers is likely to revert to its original policy of zero returns, except in certain limited categories of rough diamonds.

Amidst an oversupply in rough diamonds given the challenging cut and polished diamond demand and sales, the over 130-year-old company had relaxed return policies for its sightholders in last couple of months. However, with festive season in the West boosting cut and polished diamond exports from India, the oversupply scenario is set to ease up, letting