The value of rough gemstones sold by the UK-based company in the first sales cycle of this year, between December 21 and January 30, was down to $374 million from $497 million recorded in the holiday season cycle ending on December 20 of last year.
"I'm pleased to see a further increase in demand for De Beers rough diamonds during the second sales cycle of 2024," De Beers Group CEO Al Cook said in a press statement.
Cook attributed the decrease in the value of sales compared to the last sales cycle of 2023 to ongoing economic uncertainty in the US and sluggish sales in China, although revenues were buoyed by a rise in consumer demand for diamond jewelry in India. De Beers expects demand to continue recovering during 2024.