At De Beers company last week announced the introduction of forward contracts for their customers who purchase rough diamonds at auctions, says Diamond World in the weekly message. The advantage of this scheme is that customers will be able to determine the volume of rough diamonds they wish to purchase at a given period. The Company believes that this step will be beneficial to customers, enabling them to plan for the purchase of raw materials and meet the needs of their business.
Determination of the new scheme as the benefits, of course, is true to the extent that is necessary and it is important to plan in the business, as it helps to reduce the risks. In addition, this step can contribute to the improvement of the diamond industry as a whole.
De Beers has also taken another step, deciding to move the procurement, production and trading base their auctions in Singapore. Due to this movement, the company expects to expand its customer base and to strengthen the position in the commodity markets. Innovations help revitalize the competitive environment, and politics De Beers could lead to similar consequences.
De Beers has always been considered a pioneer in the development and implementation of new concepts in the diamond industry, whether it's retail sector or activity on the rough diamond market. Although, in all probability, the program sales to sightholders De Beers will not be affected by the latest innovations, the details of which have not yet been reported, we should wait and see how this will be implemented in practice.
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