International Diamond Cultivation Association Announces Dissolution

The International Diamond Development Association (IGDA) recently announced its dissolution with immediate effect, and its leaders attributed the dissolution to financial and operational restrictions.

 

On July 8th, Joanna Park Tonks, Chairperson of IGDA, and Louis Price, Vice Chairperson, stated in a letter to all members that "IGDA has always been operated by managers with their own commercial interests on a voluntary and unpaid basis, and this business model is no longer sustainable. "

 

Park Tonks revealed to JNA Asia Jewelry that managing the association is a demanding full-time job that requires compensation and support from a professional team, and IGDA did not receive these resources during its operation.

 

IGDA was founded in 2016 by Dick Garrard with the aim of representing and supporting the diamond cultivation (LGD) industry. Park Tonks stated that the association has over 100 members, including manufacturers, retailers, traders, jewelry companies, national industry associations, and experts from various fields.

 

She said, "IGDA has successfully elevated LGD's position in the broader diamond industry, benefiting its members greatly, especially by enabling the Federal Trade Commission to redefine the constituent elements of diamonds legally. "

 

prospect

Park Tonks remains optimistic about the business prospects of LGD, with retailers stating that demand in the world's largest market - the United States - remains strong.

 

She continued, 'LGD remains India's strong suit, with numerous regional groups in the area.'. And the United Arab Emirates is an important trade hub and center of excellence, equally shining brightly. We continue to strive to address sustainable development issues and deepen the industry's demand for environmental protection and its understanding of science. "

 

Park Tonks added that the global diamond market is clearly at a critical watershed between "natural" and "cultivated" products, so the value proposition of each product will be more distinct for different customer groups.

 

She said, 'Despite the price drop, LGD, a versatile and fascinating artificial inno

vation, still has enormous profit potential in terms of creative potential, avant-garde design, and technological applications.'. "

According to an insight report released by diamond industry analyst Edahn Golan on July 13th, the rate of decline in LGD prices has slowed down this year.

 

The report points out that the wholesale prices of LGD continue to decline, but the double-digit decline compared to the past few quarters has slowed down. "

 

The report shows that in the second quarter of 2025, the wholesale price of certified gem grade LGD decreased by 6.7% month on month. Affected by a 50% decrease in wholesale prices for 3-carat round diamonds and a 42% year-on-year decrease in LGD prices for 1 to 3-carat diamonds.