IDI President Hails Small De Beers Sight

The decision by De Beers’ Diamond Trading Company to decrease its September sight to $380 million will help to calm the market, Moti Ganz, chairman of the Israel Diamond Institute and the International Diamond Manufacturers Association, said in a statement.

The small sight comes after an unusually large August allocation of $884 million, Ganz added.

The decision will help steady the trade and stabilize prices, Ganz said.