GJ Town India

  Eying on to educate and certify CSR, sustainability  and SDG officers for the jewellery industry!   CIBJO, the World Jewellery Confederation, and Intertek Italia SpA, the Italian subsidiary of the Intertek Group, a multinational assurance, inspection, product-testing and certification company that assists companies ensure that their operating procedures and products meet quality, health, environmental, safety, and social accountability standards, have announced a joint initiative to educate, train and certify CSR, sustainability and Sustainable Development Goals (SDG) compliance officers, specifically for the gemstone and jewellery industries. It will be the first dedicated programme of its sort worldwide. The announcement was made on September 12, 2020, during the opening day of the VOICE VicenzaOro trade event in Vicenza, Italy, by CIBJO President Gaetano Cavalieri, who was joined on the main stage by Alessandro Ferracino, Regional Director of Italy & France Intertek; Maria Fra

The midstream, not profitable enough! Diamond markets are under pressure as profit margins have tightened and the trade war with China has fueled uncertainty. US jewelry sales are robust, but the midstream is not profitable enough to support a sustainable supply chain.                  The RapNet Diamond Index (RAPI) for 1-carat diamonds fell 0.7% in May and is down 1.7% since the beginning of the year. Diamond trading was weak at the JCK Las Vegas show. Demand is selective, with buyers avoiding inventory purchases. Jewelry retailers are taking more goods on memo. Polished suppliers are offering technology and source verification as a value-added service. There is good demand for 0.60- to 1.99-carat, F-J, VS2-I1 diamonds. Buyers are insisting on well-cut stones. Polished below 0.50 carats is slow due to excess supply, weak Chinese demand and tight Indian liquidity. Cutters are operating at lower capacity as they try to reduce inflated inventory. The number of dia