Panna diamonds remain unsold at the state-run Auction

According to media reports, hundreds of carats of rough diamonds have remained unsold after state-run auctions failed to attract buyers. Labourers and poor farmers rent land from the government and recover diamonds, at times even high-end stones!

But, the diamonds have been unsold at recent auctions as demand slumped globally. In a recent auction conducted by the Panna Diamond Office, about 64 diamonds, weighing 111.45 cts were unsold. During 2022-23, at least 139 diamonds, weighing 255.47 carats were unsold, and in 2021-22, there were  68 diamonds unsold weighing 73.15 carats.