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RUSSIAN COMPANY INCREASES PRICE OF DIAMONDS SUPPLIED TO ARMENIA
news.am
Nov 16 2011
Armenia
YEREVAN. - Although international market price of diamonds has fallen
by about 20%, the Russian ALROSA company has raised the price of
diamonds supplied to Armenia, director of Arevkan diamond company
Vardan Andreasyan said at a Wednesday press conference.
Nevertheless, the company has not stopped buying raw materials for
diamonds from the ALROSA not to disrupt strategic cooperation.
"While buying raw materials we knew we would incur losses, but we
did it not to stop deliveries in the future," he said adding that
the Russian company sets prices for rough diamonds unilaterally.
Director of Lori company Gregory Shahnazaryan also said they had to
cut volume of supplies due to rise in prices.
Both managers refrained from naming precise price of diamonds,
saying it depends on weight, color, degree of damage. For instance,
Andreasyan said that a diamond of 0.5 carats was bought for $400,
a diamond of 0.75 carats - for $520.
Economy Minister Tigran Davtyan also present at the briefing stressed
that they are working on diversification of raw material sources.
Armenia receives 90% of raw material for diamonds from the Russian
ALROSA company.
From: A. Papazian
news.am
Nov 16 2011
Armenia
YEREVAN. - Although international market price of diamonds has fallen
by about 20%, the Russian ALROSA company has raised the price of
diamonds supplied to Armenia, director of Arevkan diamond company
Vardan Andreasyan said at a Wednesday press conference.
Nevertheless, the company has not stopped buying raw materials for
diamonds from the ALROSA not to disrupt strategic cooperation.
"While buying raw materials we knew we would incur losses, but we
did it not to stop deliveries in the future," he said adding that
the Russian company sets prices for rough diamonds unilaterally.
Director of Lori company Gregory Shahnazaryan also said they had to
cut volume of supplies due to rise in prices.
Both managers refrained from naming precise price of diamonds,
saying it depends on weight, color, degree of damage. For instance,
Andreasyan said that a diamond of 0.5 carats was bought for $400,
a diamond of 0.75 carats - for $520.
Economy Minister Tigran Davtyan also present at the briefing stressed
that they are working on diversification of raw material sources.
Armenia receives 90% of raw material for diamonds from the Russian
ALROSA company.
From: A. Papazian