The Israel Diamond Exchange (IDE) has conducted its first post-pandemic diamond show following a months-long implementation of Covid-19 restrictions, signalling a return to full operations.
The bourse said it had lifted all coronavirus-related constraints during “Blue and White” – IDE’s first diamond fair since the pandemic erupted. The fair demonstrated a full return to normal activity for the Israeli diamond industry.
Meira Weisberg, chairman of the IDE Exhibitions and Foreign Relations Committee, cited high demand and robust buying activity during the show. “This is just the start of what will be a very fast and impressive global recovery. IDE is already preparing for two Israeli exhibitions in New York and Dubai in the coming months.”
Blue and White fairs are traditionally held several times a year on the IDE trading floor. The latest event featured close to 50 companies who displayed a wide array of goods, including fancy colour diamonds in a variety of sizes and price ranges. Both loose diamonds and finished diamond jewellery were exhibited during the show.
Israel’s diamond trade has witnessed double and triple-digit growth in all trading categories in the recent months.
Data from March, April and May 2021 showed that net rough diamond imports to Israel increased by 112 per cent to US$594 million from the same period in 2020. Net exports of rough diamonds meanwhile rose by 116 per cent to US$522 million from year-ago figures.
Net imports of polished diamonds were also on the upswing, recording a 96 per cent rise to US$855 million from last year while net polished diamond exports grew by 30.5 per cent to US$1.15 billion compared to the same period in 2020.