The World Jewellery Confederation (CIBJO) has officially recommended synthetic diamond as the sole Blue Book term for diamonds that are not of natural origin. This decision, finalized at the organization’s centenary congress in Vicenza, Italy, marks a significant shift in industry standards. The four-day event, held from September 4 to 7, 2026, brought together nearly 500 delegates representing the global jewellery supply chain. Attendees addressed critical issues ranging from natural diamond demand to supply discipline and geopolitical impacts.
Rebuilding Demand for Natural Stones
On the opening day, the focus shifted to the challenge of selling natural diamonds to younger consumers. Gareth Penny, chairman of Ninety One and former De Beers Group CEO, argued that marketing must pivot from physical composition to emotional value. He emphasized that engagement jewellery remains a key category but requires a new narrative. Penny also urged the industry to better communicate the economic benefits generated in producing countries like Botswana and Namibia. He suggested that sustainability efforts need to move beyond abstract concepts to demonstrating tangible impact.
A different perspective emerged from Martin Rapaport, who offered a more critical assessment of the market. He attributed part of the current disruption to how synthetic alternatives have been presented to buyers. Rapaport noted that one-carat natural polished diamond prices have fallen by roughly 50% from their post-pandemic peak. To counter this, he called for positioning natural diamonds around scarcity, luxury, and emotion. He also identified pre-owned natural diamonds as a viable opportunity for attracting younger demographics who might be price-sensitive to new inventory.
Geopolitical Shifts and Trade Routes
Geopolitical tensions dominated the agenda on September 5, with panels examining the impact of the Russia-Ukraine conflict and US tariffs on the trade. Karen Rentmeesters, CEO of the Antwerp World Diamond Centre, discussed how G7 and EU sanctions have altered the flow of Russian-mined rough diamonds. She noted that goods previously moving through Antwerp are now redirecting towards India and Dubai. This shift has highlighted growing compliance and traceability considerations for manufacturers in these regions.
The American Gem Trade Association also took the stage to discuss its efforts to secure tariff exemptions for coloured gemstones. These stones are often cut in Thailand, India, and Brazil. The panel highlighted the detailed web of international regulations that now influence where diamonds are processed and sold. For Indian exporters, the changing flow of Russian rough has added a layer of complexity to their operations. They must now manage stricter traceability requirements while adapting to a changing supply environment.
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The Terminology Debate Intensifies
The most consequential development occurred on September 6, when CIBJO’s Diamond Commission proposed removing “laboratory-grown” and “laboratory-created” from its nomenclature. Chaired by Udi Sheintal with vice-president Jean-Pierre Chalain, the commission argued that HPHT and CVD diamonds are produced through industrial processes rather than grown in a lab. This move reverses CIBJO’s 2010 position, which had accepted the three terms as equivalent. The proposal was debated intensely among delegates.
Wesley Hunt, chair of the Laboratory-Grown Diamond Committee, told delegates that requests had been made to defer the decision. Producers, including Tom Chatham, also sought a delay to allow for further discussion. Despite these objections, CIBJO proceeded with the proposal. The terminology issue has direct implications for major markets. France and Russia now permit the term “synthetic,” while “lab-grown” remains standard in India and the US. The London Diamond Bourse also announced its move towards “synthetic diamond,” following a unanimous vote in Singapore in July. This divergence highlights how regional preferences continue to shape global standards, creating a fragmented regulatory environment that manufacturers must carefully monitor.
Supply Discipline and Future Outlook
A market panel moderated by Rob Bates, Edahn Golan, and Avi Krawitz examined the state of natural diamond demand. Panelists agreed that reductions in mining output are currently supporting prices, though demand generation remains a challenge. Mehul Shah, president of the World Federation of Diamond Bourses, highlighted India as the world’s second-largest jewellery market. He noted that retail sales in the country are growing at around 10% annually. This growth contrasts with the stagnation seen in other major markets.
The General Assembly and Board of Directors affirmed the nomenclature change on September 7, bringing the centenary congress to a close. CIBJO’s position now places “synthetic” at the centre of its recommended terminology. The congress also announced the creation of an International Fine Jewellery Academy in Milan. Developed by CIBJO, CAPAC Confcommercio, and Fondazione Mani Intelligenti, the academy will focus on craftsmanship, luxury R&D, standards, sustainability, and technology. For India, the nomenclature debate carries particular significance as the country remains a major jewellery market and an important centre of diamond manufacturing. Manufacturers and exporters must closely track evolving international traceability and compliance requirements as the industry adjusts to these new standards.
