Who controls the diamond market?

No specific government, organization or company controls the diamond market. As a free enterprise, the diamond industry is guided by supply and demand, which determines the pricing and availability of gemstones. As the world's largest diamond producer and distributor, De Beers may be said to dominate the diamond market. In terms of which country produces the largest share of rough diamonds, Russia typically tops the list. On 1stDibs, shop a wide range of diamond jewelry.