Monday, May 7, 2012

GEMMOLOGICAL INSTITUTE OF INDIA (GII) – LEAPING FORWARD

Gemmological Institute of India has crossed many milestones in its journey over the last 40 years in teaching Gemmology in India.

The very first organized study of gemology in India started in the year 1971 by GII in a very humble and modest way. Slowly and steadily GII has carved a niche in the field of gemological studies over the years and the courses offered at GII are at par with any Gemmological courses offered around the world.

However, it was the need of the hour to improve the facilities with a view to elevate the classroom facilities as per international standards. Keeping this end in view GII has renovated its classroom and equipped the same with the most modern and state of the art facilities. In the new set up, theory and practical session have been offered to students using maximum of PowerPoint presentation and one on one practical session to the students. Each student will be having all the necessary instruments & gemstones to himself while doing the practical sessions.

GII opened the newly renovated classroom with most modern facilities at Gurukul Chambers, Mumbadevi Roa on Friday the 27th April 2012.

Shri Dilipkumar V. Lakhi , CEO of Lakhi Group of companies, is one of the biggest diamond exporters from the country, was the Chief Guest on the occasion.

In his address Shri Dilipbhai Lakhi stated that GII being the institution sponsored by the Gem & Jewellery Export Promotion Council it should promote the institution as a nodal and model institution in India for promotion of the Indian gem stone and diamonds in the domestic and international markets.

Mr. Sanjay Kothari, Vice Chairman of the council, Shri Kirtibhai Doshi, chairman of GII, shri Vasant Mehta, chairman IIGJ and shri Rajendrakumar A. Shah, Managing Trustee of GII also addressed the gathering and appreciated the efforts of the GII for the promotion of the Gemmological studies in India. 



source: diamonddigest.in

Sarin Revenues, Profits Soar in 1Q

Sarin Technologies revenues and profits rose in the first quarter as Indian diamond ‎manufacturers required more of the company’s systems to accommodate new supply of ‎rough from Zimbabwe.‎

Sarin reported that revenues rose 61 percent year on year to $19.7 million during the ‎quarter while net profit more than doubled to $7.8 million. ‎

Revenues from India increased by 77 percent to $16.5 million, while from Africa they fell ‎‎21 percent to $884,000. Revenues in Europe declined by 16 percent to $366,000 while in ‎North America they doubled to $431,000. Revenues from other markets grew 32 percent ‎to $1.5 million. ‎

Sarin explained that positive business sentiment helped encourage sales. “Although the ‎economies in Europe could impair the global economic outlook and in turn Sarin’s ‎performance, the group is encouraged by the growing markets in China and India for ‎diamond jewelry,” the company stated. “The group expects demand from Asian markets, ‎in general, and China and India, in particular, to continue to drive diamond jewelry ‎expansion in 2012.” ‎

More than one-third of revenue was generated from Sarin’s Galaxy product with 14 ‎Galaxy family systems delivered during the quarter. ‎



Source: www.diamonds.net

DTC May Sight Estimated at $520M

The Diamond Trading Company's (DTC) May sight had an estimated value of $520 ‎million. The De Beers distribution unit made slight adjustments on pricing by increasing some ‎boxes while decreasing others. ‎

Louise Prior, the head of sightholder services and communications for DTC, noted that ‎while the adjustments were minor, the overall price trend was up as polished demand has been steady. “We are seeing ‎encouraging signs from the U.S., while demand from China and India continues to drive ‎growth,” Prior said.‎

Sight participants were less enthusiastic and some stressed that there is no room for rough ‎price increases at the moment. “The adjustments were not well accepted as people are ‎not really making money at the moment,” one sight participant said. “I wouldn’t say they ‎are losing but it’s just not [profitable] at the moment.”‎

Sightholders noted that there is relatively little activity in the secondary markets and DTC boxes are ‎trading at low premiums of around 3 percent to 4 percent. There is some demand for ‎Indian goods but no category stands out as particularly strong at the moment.‎

The May sight had roughly the same value as the previous sight in March, however, it was 25 percent below the ‎estimated sight value of one year ago. Rapaport estimates indicate that DTC sales fell 16 ‎percent year on year during the first four months of the year. De Beers earlier reported ‎that production in the first quarter fell 16 percent to 6.2 million carats. ‎

The sight was the first of the new three year contract between DTC and its new list of‎sightholders.   ‎



Source: http://www.diamonds.net

Saturday, May 5, 2012

DTC May Sight Estimate at $520M

The Diamond Trading Company's (DTC) May sight had an estimated value of $520 ‎million, roughly the same value as the previous sight in March, but a 25% drop from this sight period of one year ago. Rapaport estimates indicate that DTC sales fell 16% year on year during the first four months of this year. De Beers earlier reported ‎that production in the first quarter fell 16% to 6.2 million carats. ‎

DTC made slight adjustments on pricing by increasing some ‎boxes while decreasing others at this offering. Sight participants were less enthusiastic since there is no room for rough ‎price increases at the moment as so many firms are not really making money. Sightholders also noted that there is relatively little activity in the secondary markets and DTC boxes are ‎trading at low premiums of around 3% to 4%. There is some demand for ‎Indian goods but no category stands out as particularly strong.



source: http://www.diamonds.net/

Polished Prices Stable

Certified polished diamond prices were stable in April although trading remained weak. India is under pressure as the new protectionist 2% polished diamond import tax has drastically reduced polished imports and exports. Demand in the consumer markets was stable but wholesalers and retailers continue to maintain low inventory levels. Buyers are focused on commercial-quality diamonds. There is continued improvement in demand for fancy shape diamonds. Price conscious consumers are moving to fancies as their prices are much lower than rounds. Price differentials encouraged cutters to manufacture rounds instead of fancies in 2011, resulting in a current shortage of fancies.

In April, the RapNet Diamond Index (RAPI) for 1.00 ct. polished diamonds fell 0.2%. The 0.3 ct. category increased by 0.4% while 0.5 ct. rose 0.5%. RAPI for 3.00 ct. diamonds increased 1.2%. During the first four months of the year, RAPI for 1.00 ct. diamonds fell 2.9% and was at about the same level as it was one year ago.



source: rapaport.com