De Beers Hikes Diamond Prices: De Beers...
From Times Staff and Wire Reports
De Beers Hikes Diamond Prices: De Beers Consolidated Mines Ltd., London, said it will raise the prices of rough gem diamonds sold through its Central Selling Organization by an average 5.5% effective Monday. Vigorous consumer demand and a need to keep prices in line with global inflation prompted the rise, said De Beers spokesman Andrew Lamont. De Beers pushed prices up 15.5% in its last increase in March, 1989. The organization’s sales were down 2% at $4.09 billion last year and are expected to be flat this year.
