The Nigerian gemstones market, particularly in the realm of diamond dust or powder, is demonstrating intriguing dynamics, driven by import activity and shifting prices. This brief analysis highlights trends from the recent years, focusing on Nigeria"s import data of diamond dust or powder—a category of fossil essential for various industrial applications. In 2021, Nigeria imported substantial volumes of diamond dust or powder, with two notable peaks at 777,300 carats valued at $146. 043 and 782,900 carats at $180. 686. This period marked an active phase of imports that indicated a robust demand and competitive pricing environment. However, the trend shifted significantly in 2022, with volumes dropping to 5,000 carats while the value per carat saw a significant increase to $1082. 038.

This surge in price suggests a potential market squeeze, possibly due to decreased availability or increased demand for higher-quality material. The year 2023 saw another dramatic change, with import quantities rising to 370,000 carats at a value of $671. 478. Compared to the previous year"s sharp price increase, this suggests a stabilization in market conditions or a strategic pivot by traders to balance between volume and price. These fluctuations underscore the importance of strategic sourcing and supplier engagement in Nigeria"s gemstones market. For businesses looking to navigate this complex landscape, Aritral offers an AI-driven B2B platform that simplifies international trade. With services like Product Listing, Direct Communication, Global Sales Assistance, AI-Powered Marketing, and Profile Management, Aritral empowers businesses to efficiently connect with key suppliers and optimize their trade strategies in the gemstones sector. "