GIA Plans to Open a Lab in Japan

The Gemological Institute of America (GIA) plans to establish a laboratory in Japan in 2012, a decision that was reached following lengthy consultations with various Japanese stakeholders. In addition, a GIA facility in Israel is scheduled to open in 2012. Both initiatives will benefit the Institute’s ongoing efforts to expand lab capacity.

''We are excited to develop a presence in Japan,'' said Donna Baker, the president of GIA. ''Japan, along with India and China, are the world’s leading diamond markets, behind the U.S.

''GIA’s mission is to promote the public trust in gems and jewelry and, as such, we will do everything within our means to carry forth this mission in Japan and to assist the Japanese diamond community in furthering these goals,'' Baker said.

-Rapaport

Japan's Polished Diamond Imports +24% in November

Japan’s polished diamond imports grew significantly October driven by stronger prices. Polished imports rose 24 percent year on year to $91.7 million in October, Momozawa reported, citing data from the Finance Ministry. The increase came despite a 26 percent decline in the volume of the imports to 203, 896 carats while the average price of the goods jumped 67 percent from a year earlier to $450 per carat. The exchange rate for the period was JPY 76.7 to the dollar, compared with JPY 83.42 a year earlier.

Imports from India grew 25 percent to $44.5 million, and from Belgium they increased 58 percent to $21.4 million. Polished imports from Israel rose 49 percent to $4.9 million while from Hong Kong they fell 19 percent to $6.6 million.

During the first 10 months of the year, Japan’s polished imports rose 17 percent to $685 million while the volume of imports fell 14 percent to 1.756 million carats.

In September, the country posted its strongest month of polished imports by value since January 2006 as the imports rose 33 percent to $96.3 million.

-Rapaport