Diamond production by Namdeb, the government-De Beers 50:50 joint venture, rose by 58% to 1.47m carats in 2010, owing to a strong recovery in global demand for rough stones (January 2011, Economic performance). Volume sales rose less strongly, by 12% to 1.52m carats, mainly because in 2009 Namdeb sold part of its stock of unsold diamonds to a consortium of Indian diamond-cutting firms. This boosted sales volume above that year's sharply reduced output. However, last year's substantial increase in diamond prices boosted sales value by 70% to US$767m, and the average price per carat sold rose by 51%. Namdeb has not issued any production guidance for 2011; the Bank of Namibia (presumably based on some Namdeb input) forecasts only a 2% real value-added rise in diamond output, compared with 41% in 2010. Production in 2011 is expected to rise further, but only to some 1.6m-1.7m carats, and De Beers expects rough diamond prices to continue rising in 2011, but at a slower rate than the exceptional increase recorded last year.

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