In the Pressing Matters podcast, dedicated to the diamond industry and hosted by industry journalist Avi Krawitz (The Diamond Press), Karen Rentmeesters, CEO of the Antwerp World Diamond Centre (AWDC), discusses how Antwerp is adapting to a changing environment, the role trading centers can play in shaping public policy, and the implications of regulatory changes for the diamond industry as a whole.
Caution Remains Essential
Trading in polished diamonds has been increasing for the past eight months, with prices strengthening, while the rough diamond market remains under pressure, despite showing signs of stabilization. At the Jewellery & Gem WORLD Hong Kong (JGW September 2026) show, sentiment was generally positive, though far from exuberant. For Karen Rentmeesters, this improvement does not yet signal a sustained recovery in demand. It is important to remember that, in terms of value, the figures remain down by double digits compared to previous years.
Above all, the industry is undergoing a structural contraction. Mine closures, reduced supply and tighter inventory management are reshaping the industry’s fundamental dynamics and its future.
Manufacturers and sightholders are no longer obliged to purchase large quantities of rough diamonds, giving them greater control over their sourcing and shifting inventory-related risks onto mining producers. This helps explain the closure of certain mines that are no longer economically viable.
Antwerp Rethinks Its Positioning
Historically dominated by rough diamond trading, Antwerp is seeing polished diamonds become an increasingly important driver of its activity.
Sanctions against Russia, which previously accounted for a quarter of the value of Antwerp’s rough diamond imports, have accelerated this shift. At the same time, while the AWDC’s CEO observes growing consolidation among rough diamond market participants, she sees the opposite trend in polished diamonds, where the market is becoming less dependent on major players.
Against this backdrop, the AWDC aims to strengthen its role in supporting businesses as they navigate through regulatory and commercial complexities. Its engagement with European and US authorities has notably contributed to securing an exemption from US customs duties for diamonds polished in the European Union. This represents a symbolic achievement, although its practical impact remains limited by Europe’s relatively small diamond polishing capacity.
The AWDC’s Three Core Missions
Karen Rentmeesters highlights the AWDC’s three principal missions:
- Being able to generate ideas and foster industry-wide discussion, including through the next edition of the Facets event, scheduled for May 4, 2027
- Serving as a reliable source of information for industry stakeholders
- Providing greater flexibility for industry professionals, a particularly important objective as the diamond industry’s fundamental dynamics undergo significant change
Traceability: A Major Challenge
While traceability facilitates transactions with major luxury Houses, it does not, in itself, generate greater consumer enthusiasm or additional demand. Nevertheless, traceability requirements are increasingly stringent. They remain costly and poorly suited to small and medium-sized businesses, particularly those sourcing diamonds from the secondary market (stones that have already entered commercial circulation and whose origins can sometimes be difficult to document). The AWDC’s CEO cites the example of a medium-sized company that received 13 visits from brand-appointed auditors in a single year, all seeking to verify its practices! Meeting such demands represents a considerable challenge for small and medium-sized enterprises, which are often not equipped to handle them.
Another challenge facing the industry comes from new European rules targeting misleading environmental claims, which require sustainability-related statements to be substantiated. Claims such as “sustainable,” “environmentally friendly” or “conflict-free” must be supported by specific, verifiable evidence. These requirements apply to both natural and lab-grown diamonds and prohibit claims of carbon neutrality based solely on emissions offsetting.
For Karen Rentmeesters, the industry’s future depends on its ability to adapt to these new realities, but also on achieving sustained growth in demand, something that remains far from assured.
We recommend listening to this insightful and engaging podcast in its entirety.
This full episode of Pressing Matters is available HERE
Image: « The Diamond Press » podcast