Indian processors suspend rough diamond import for the whole of June

Many diamond processors are expecting the moratorium to pressurise minrts to reduce rough stone prices

After nearly two months of the Covid-19-induced lockdown, Indian diamond processors are preparing for one month of a voluntary moratorium on the import of rough diamonds from June 1. Many diamond processors are expecting the moratorium to mount pressure on mining companies to reduce the price.

The apex industry body, Gem and Jewellery Export Promotion Council (GJEPC), has called for the voluntary moratorium to help Indian processors ease their inventory. With demand for diamonds expected to decline in the monsoon season, the moratorium will offer time to processing units to restore their business activities for a demand revival during Dussehra and