Letter: Diamond jewelry manufacturers face a difficult time because of a stable increase in diamond prices every day.
Industrial experts claim that prices have surged more than 50 percent in the past month.
Manufacturers complain that there is a price increase of five percent every week.
“Silent commercial quality diamonds that I bought for RS 8,000 before, are now available at Rs 14,000.
While premium quality diamonds previously charged 42,000 RS costs are now available more than Rs 60,000,” Vijay Mantanukiya, manufacturers and exporters of diamond jewelry to Ti.
More than 50 to 75 percent of price increases have been witnessed in rough and cut diamonds.
The right increase depends on the quality and category of stone, said experts.
“I have to send a revised price five times to the US jewelry distributor who ordered.
They received a revision in price four times and then they delayed when we sent the fifth price revision recently,” said Mangukiya.
The export of gold-studded gold jewelry from April to December 2021 was $ 4,084 million.
According to GJEPC data, this is 46 percent higher than the previous year.
However, after December, the increase in prices of diamonds put jewelry and jewelry manufacturers in repairs.
“I have to reduce production of almost 40 percent in my unit after December with a price increase in diamonds and also lack of supply.
I prefer to take new orders and make jewelry only after the price is stable,” said Ramesh Kakadiya, a manufacturer and exporter of diamond jewelry.
“The diamond jewelry manufacturing industry is waiting and watching the mood.
There are international demand but new orders are both detained or received with the provisions with the increase in the increase in diamond costs,” said Jayanti Savaliya, President, Association of Jewelry Manufacturers.
Confirming that the price of diamonds has risen more than 50 percent, regional leader GJEC Dinesh Navadiya said, “There is a request for jewelry and diamonds, but supply is limited.
Therefore, the price is up.
Small diamond jewelry manufacturers face challenges because of the temporary price increase Large that has stock may not face the same problem.
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More than 50% increase in the price of diamond places jewelry in repairs
