The demand for rough diamonds improved during Q1 2024, with the first two sales cycles of the year registering a sharp increase in diamond sales value when compared to the previous quarter (Q4 2023). De Beers Global Sightholder Sales (DBGSS) nearly quadrupled and recorded sales valued at USD804 million during Q1 2024 up from USD216 million in Q4 2023. The improvement in the demand for rough diamonds during Q1 was driven by manufacturers restocking inventories as well as increased demand for diamond jewellery in the Indian market. The industry expects the market to gradually improve in 2024. However, the level of uncertainty in the market remains high.