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Alrosa's May diamond sales drop to US$288M

PJSC Alrosa's diamond sales reached US$288.0 million in May, down significantly from US$405.3 million in April, the company said June 8.

Rough diamond sales totaled US$277.5 million, while polished diamond sales came in at around US$10.5 million.

The Russian firm's diamond sales in the five-month period from January to May reached US$2.30 billion, with rough diamonds sales totaling US$2.26 billion and polished diamonds sales amounting to US$43.3 million.

Yuri Okoyomov, Alrosa's deputy CEO, said there was a planned sales decline in May driven by the sale of accumulated inventories and a seasonal drop in current output.

Alrosa CEO Sergey Ivanov said in late May that the company's first-half sales of rough diamonds are expected to be significantly higher than it originally predicted.

The company's full-year production is forecast to reach 36.6 million carats, while sales will reach about 40 million carats.