Analyst :Diamond Demand to Double Supply in 10 Years

A diamond industry analyst has made a game-changing prediction: within ten years, global demand for diamonds will far outstrip supply, Rough and Polished reports. Speaking on future trends for rough and polished diamonds last week, Belgian diamond company co-owner Henry Krohmal told a crowd assembled by Russian jewelry house Korloff in Saint Petersburg that international demand for diamonds will more than double supply in only a decade.

Krohmal foresees global demand for rough diamonds passing the $20 billion mark, though he doubts the world's annual supply of rough diamonds will surpass $9 billion in total. He noted that few new diamond deposits are being reported, and those at are, in Russia, are of industrial-grade stones, not jewelry-grade gems.

For its part, diamond giant De Beers believes that if there is another large diamond mine to be discovered, it will be found in the southern African nation of Angola, according to Rough and Polished.

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