De Beers Group reported that rough diamond sales increased from US$374 million in the last cycle to US$430 million in the second 2024 sales cycle.
The Group released the provisional rough diamond sales figure quoted for Cycle 2 on Wednesday.
According to De Beers, the figures represent the expected sales value for the period and remain subject to adjustment based on final completed sales.
De Beers Group CEO Al Cook said it was pleasing to see a further increase in demand for rough diamonds during the second sales cycle of 2024.
Cook, however, said the ongoing economic uncertainty in the US has led to retailers restocking conservatively after the 2023 holiday season. He also said consumer demand for diamond jewellery is growing in India but remains sluggish in China.
“Overall, we expect the ongoing recovery in rough diamond demand will be gradual as we move through the year,” Cook added.
