De Beers announced sales worth US$ 390 million (provisional) for Cycle 9 2019. While this is a fair improvement over the previous Cycle sales worth US$ 297 million, it still falls short of Cycle 9 2018 sales of US$ 442 million.

Meanwhile, media reports had earlier indicated that De Beers not only allowed sightholders a lower offtake of rough, but had also allowed returns of rough taken earlier in the last couple of months. However, latest reports say that this policy of allowing returns is likely to be rolled back soon, with greater stability in the market looming ahead, and the Company will revert to its zero returns policy.

Commenting on the Cycle 9 2019 sales, De Beers Group CEO Bruce Cleaver, said: "With signs of increasing polished price stability, Cycle 9 saw an improvement in sentiment from rough diamond buyers. Global consumer demand for diamond jewellery at the retail level continues to be broadly stable but, with midstream trading conditions still in the process of rebalancing, we offered Sightholders further flexibility during the Sight to provide support."