Diamond Foundry Hikes Output, Prices

IGDA Member, Diamond Foundry is increasing its production more than tenfold and raising wholesale prices 15%, as it predicts an uptick in demand for lab-grown diamonds.

The company believes there is a shortage of synthetic-diamond supply while consumer interest in the product is rising. It plans to raise production to at least 1 million carats of rough per year, boosted by a new factory in Washington state, Diamond Foundry CEO Martin Roscheisen told Rapaport News.

The company also announced an average 15% increase in the wholesale prices for its rough and polished diamonds, effective January 1, citing the purported supply shortfall.