(IDEX Online News) – Most diamond manufacturing plants in Surat, India's cutting and polishing center, have closed down for the summer vacation.

 

The majority of the diamond manufacturing units in the city closed from May 21 for 15-20 days and are expected to reopen in the first week of June.

 

Many smaller diamond manufacturers are likely to extend the vacation to 25 days after slashing production due to the 16-percent rise in rough diamond prices by leading diamond miners, including De Beers, Rio Tinto and Alrosa, since March 2013, according to a report in The Times of India.

 

As a result of the increase in rough prices, there has been a decrease of around 40-50 percent in the manufacturing of the polished diamonds.