Diamond-producing company De Beers plans to raise prices for rough diamonds annually by 5%.
The South African edition of Mail & Guardian quoted a recent statement by Group CEO Philippe Mellier that the anticipated high demand for precious stones will help De Beers achieve revenue targets set by the parent company Anglo American.
"We know the trends for the long term, we know that demand will exceed supply," said Mellier. "One of our goals is to maintain price stability and avoid volatility in the market."
This year, prices for rough diamonds rose by 10%.
Anglo American, which owns an 85 percent stake in De Beers, required its diamond division to achieve a return on equity of 15% by 2016.
"We have a plan on how to achieve these indicators, and this is our main goal," he said.