Government withdraws gold import rule

The removal of 20:80 rule is aimed at curbing smuggling and increase legal shipments

Post By : IJ News Service On 29 November 2014 7:24 PM
A report summarising global diamond production in 2009 and individual contributions by major producing centres, released by the Kimberley Process Certification Scheme (KPCS), shows figures falling short of 2008 levels, despite trade improving from the slowdown in the later part of 2009. %% The total diamond production of 124.8 million carats, (dropped 23.4 percent from 2008) was valued $8.64 billion (decreased 32.2 percent from 2008) or an average price per carat of $69.20 p/c (decreased 11.5 percent from 2008). %% Major individual producing centres recorded: %% {{Russia:}} The leading diamond producer in 2009, with 34.8 million carats, or 28 percent of global production, at $2.34 billion or 27 percent of value of global output. The average per carat value was $67.34 per carat. It produced 36.9 million carats worth $3.27 billion in 2008. %% {{Democratic Republic of Congo:}} Second largest producer in volume terms with 21.3 million carats produced at $225.8 million. Average price was $10.60 p/c. %% {{Canada :}} Second largest producer in value terms, with 10.946 million carats at $1.47 billion. %% {{Botswana:}} Third largest producer in volume - 17.734 million carats, a 56 percent drop from 2008, and in value - $1.44 billion. %% Rough diamond exports by Kimberley Process members slipped 36 percent to $24.98 billion, 2009, and imports decreased 35 percent to $25 billion. Amongst the rough diamond exporting centres, the European Community led the category contributing 38 percent by value and volume. India led the category of diamond importers in volume terms- 119.7 million carats, while the EC led in value terms at $9.2 billion.

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