WFDB Worries That Supplier of Choice Will Hurt Smaller Companies –
At the recent President’s meeting in Sun City, South Africa, the World
Federation of Diamond Bourses passed a resolution which expressed their
opinion that Supplier of Choice has created a situation in which the rough
market has become concentrated in a fewer hands, seriously threatening the
business structure of the established wholesale diamond sector, and is likely to
have an adverse effect on the future of the entire wholesale diamond trade.
“Our trade is built like a pyramid, with a wide base,” said WFDB
president Shmuel Schnitzer. “At the top there are a few big companies, in the
center there are medium sized, and at the based there are many small companies.
Without a strong bases, our industry’s future is jeopardized. SOC did not take
this situation into consideration.” v
