Israel Diamond Industry Market Report

Trading in Israel in early February was slow as demand from the United States and the Far East was down in January and the first weeks of the month.

Expectations in Ramat Gan were high for the Hong Kong show, which was moved up from March to February. The largest delegation ever - comprising 70 companies - exhibited in the Israel Diamond Pavilion at the show. Traffic at the pavilion was robust and included buyers from China, India and Australia. Exhibitors reported significant demand for all types of goods. Most of the members of the Israeli delegation agreed that the show was positive and expressed satisfaction that the Asian market was picking up.

During the month the Israeli Diamond Industry geared up for BASELWORLD 2012 (March 8-15, 2012). Seventeen Israeli diamond companies participated in this key show. IDI operated a prominently placed information and image booth in Hall 3.1, NO1, while the Israeli diamond companies were exhibiting in Hall 3, the loose diamond hall.

As in previous years the Israel Diamond Institute (IDI) held its traditional press lunch at the show. IDI Managing Director unveiled the new strategic marketing campaign for the coming year. Avidar said that the Institute’s marketing strategy in 2012 would continue to be diversified, targeting new as well as existing markets. He added that IDI would increase its trade show activities, in response to the enormous interest expressed by Israeli Diamond Industry members.

The IDI event featured also the internationally acclaimed futurist, Prof. David Passig, author of “The Future Code” and “2048”. Prof. Passig lectured on “The Mega-Challenges of the 21st Century” from a scientific perspective.

During the month, the Israel Diamond Exchange (IDE) announced that Russian diamond mining company Alrosa would hold its first preview of rough diamonds of 10.8 carats and above in Israel. The preview will enable Israeli companies that have been approved by Alrosa to place bids for these goods in the company’s next rough auction without having to travel to Moscow.

Sources at IDE said that the preview is the result of a series of meetings between the Israeli exchange, Alrosa and Alrosa subsidiary Arcos Diamonds Israel. The agreement was reached by Yair Sahar, President of the Israel Diamond Exchange, Yuri Okoyomov, Vice President of Alrosa and Ekaterina Berezina, General Manager of Arcos.

Source: israelidiamond