Alrosa FY21 diamond sales spike 50% to £3bn

Alrosa has reported its sales of rough and polished diamonds for FY21 reached $4.16bn (£3.03bn), up by 50% compared to 2020 levels and up 21% from 2019.

The total includes proceeds from rough diamond sales of $3.97bn (£2.89bn), and polished diamond sales of $192m (£139.87m).

Meanwhile, the group’s December sales accounted for $254m (£185m), including $241m (£175.56m) of rough diamond sales and $12m (£8.74m) of polished diamond sales.

The surge in sales is reportedly driven by “recovering” demand for diamond jewellery in the “key” consumer markets, including North America and Asia. 

Evgeny Agureev, deputy CEO of Alrosa, said: “Today, we are proud to present strong rough diamond sales results for 12M 2021. 

“Amid strong demand, December sales dynamics result from the high base effect of December 2020, when sales primarily came from our stocks, as well as from the trading session shift towards the end of the month with sales partly moving to January 2022.”

He added: “To reiterate, our inventories remain at rock bottom since mid-2021. We are generally positive about future demand for rough diamonds, given low stocks in the diamond pipeline and continued high demand from jewellery consumers.”

source https://www.jewelleryfocus.co.uk/203275-alrosa-fy21-diamond-sales-spike-50-to-3bn