The expert of the diamond industry and Rapaport Group founder Martin Rapaport delivered a lecture on the state of the diamond industry in which he spoke about the current problems and challenges of various world markets and the best ways to do business, IDI reports.
Rapaport highlighted in its speech topical issues related to the entire diamond pipeline, as well as internal forces and factors affecting the diamond business, and the opportunities that they open.
Rapaport mentioned the break in prices for rough diamonds and diamonds, when it is difficult to profit from the sale of diamonds at higher prices for raw materials. He said that there are a number of participants in the market who are interested in maintaining this price discrepancy for a number of reasons, including for profit from monopolizing business and ensuring the supply of diamonds.
"I want to explain why the prices for rough diamonds are excessively high for a normal diamond manufacturer," Rapaport said, warning that high commodity prices deprive diamond producers of profits and stating that price disparity is temporary because the flow of financing diamond purchases will be reduced. "Your real inventory is your knowledge. The most important thing is your ability to adapt to changes in the world market, "Rapaport said, warning against purchases of raw materials at inflated prices.
Turning to the question of the world industry, Rapaport noted that India plays a very important role, but is currently experiencing great difficulties, mentioning the depreciation of rupees and the trade balance deficit.
As for Israel, according to Rapaport, it has every chance of success and opportunity to become the main center of diamond trade. "Israel provides added value by offering the right diamonds to the right customers at the right time and in a convenient place," said the head of the Rapaport Group.