As Japanese consumers increase their purchases of high-ticket items, the country's imports of diamonds also reflect a less-for-more trend. Polished diamond imports in June increased 18.1% in value while retreating 37.4% by volume compared to June 2010.



Japan imported in June 132,932 carats worth $70.9 million, based on statistics released by the Customs Bureau of the Ministry of Finance, published by Momozawa & Co., Inc.



The average value of imports soared 88.6% to $533.53 p/c, the highest monthly average in more than four years.



In July, retail jewelry sales at Japan's department stores jumped 5.3%, in contrast to overall flat department store sales. The increase in value of imported polished diamonds reflects rising wholesale prices in the global market as well as a trend of purchasing less for more by Japanese consumers since the double natural disasters that hit the country in March.



India is Japan's leading polished diamond supplier, shipping 92,286 carats of polished worth $32.6 million, at an average per carat value of $352.90.

In the first half of 2011, imports increased by 20.4% to $402.6 million. The average value of imports increased in the first half of the year by 29.7% to $370.03 p/c.