YEREVAN. - In 2011 Armenian lapidary enterprises bought rough diamonds worth $43 million from the Russian ALROSA company, the Ministry of Economics informs Armenian News-NEWS.am. The prediction for 2012 is $50 million. In 2010 rough diamonds worth $25 million were bought.

The diamonds are supplied from Russia to Armenia by the facet of tolling arrangement after which they are re-exported to Russia.

Recently the volume of purchases decreased slightly, excess of supply over demand is observed.

“Armenian enterprises can by much more than that, but due to the current demand and costs of the market they do not buy much,” the Ministry of Economy statement reads. “In 2011, 9 Armenian enterprises bought diamonds from ALROSA. In 2012 that number might increase if the condition of the market would normalize.”