UAE to Introduce Game-Changing Online Rough Diamond Valuations

The United Arab Emirates is preparing to introduce a groundbreaking online valuation system for rough diamond imports and exports, marking a significant development in how one of the world’s major diamond trading hubs monitors international shipments. The initiative will provide independent market valuations for every rough diamond parcel crossing UAE borders, potentially exposing pricing irregularities and strengthening oversight of the multibillion-dollar trade.

Announced on November 4th by Ahmed Bin Sulayem, executive chairman and CEO of the Dubai Multi Commodities Centre (DMCC), the initiative will integrate independent pricing intelligence into existing customs procedures. According to this United Arab Emirates Jewellery News report, the UAE Kimberley Process (KP) Office will become the first such office worldwide to incorporate online valuations directly into its operational systems.

Independent Pricing to Strengthen Diamond Trade Oversight

Developed by eValuer FZCO, the platform will automatically compare traders’ declared shipment values against independent market benchmarks.

Significant discrepancies could alert authorities to potential misdeclarations, suspicious pricing practices, or shipments requiring additional scrutiny.

Unlike traditional valuation procedures involving separate manual assessments, the technology will operate within routine border processing, potentially improving efficiency without compromising oversight.

Advanced Technology Covers 3,566 Diamond Categories

The platform evaluates natural rough diamonds across 3,566 categories, drawing pricing intelligence from international tenders, auctions, and producer sales.

Its database incorporates three pricing approaches: auction and tender transactions, contract sales involving major producers including De Beers, Alrosa, and Rio Tinto, and a weighted market average.

Rather than relying on polished diamond prices, the system uses recent rough diamond transactions to establish relevant market benchmarks.

Benjamin Marriott, representing eValuer, emphasized that obtaining reliable valuations remains among the Kimberley Process’s most challenging responsibilities.

The company maintains that its independent valuation specialists possess at least 20 years of industry experience.

UAE Diamond Trade Highlights the Initiative’s Importance

Official Kimberley Process statistics reveal the enormous scale of the UAE’s diamond industry.

During 2025, the country imported 91.16 million carats of rough diamonds valued at $7.16 billion, while exports reached 89.64 million carats worth $9.28 billion.

These substantial trading volumes underscore the importance of accurate pricing and transparent cross-border transactions.

A New Benchmark for Global Diamond Markets

The initiative could establish an influential precedent for international diamond trading centers, particularly as governments face growing pressure to strengthen transparency and accountability.

Although independent valuations cannot eliminate every risk of misdeclaration, integrating market-based assessments into border procedures represents a meaningful advancement. If successfully implemented, the UAE’s approach could encourage other Kimberley Process participants to adopt comparable technology, potentially reshaping rough diamond trade oversight worldwide.