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De Beers Returns to Israel After 9-Year Hiatus
De Beers is returning to Israel after a nine-year break, with diamond tenders scheduled for October 13-15 at the Israel Diamond Exchange in Ramat Gan. The move follows a new tax agreement that lowers taxable income for diamond traders.
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What happened
- 01De Beers will resume operations in Israel after a nine-year absence, holding tenders from October 13-15.
- 02The company's return is linked to a new tax agreement lowering taxable income for Israeli diamond traders.
- 03Israeli traders can now participate in De Beers tenders locally, avoiding international travel.
- 04The global diamond industry is struggling with competition from lab-grown diamonds and falling prices.
- 05De Beers' rough diamond prices fell 32% in the first half of 2026.
- 06Israeli diamond exports decreased by 22.3% in the first half of the year.
Despite the return, the global diamond industry faces challenges, including competition from lab-grown diamonds and declining prices, which have also impacted Israeli diamond trade volumes.
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