India to launch e-trading platform for natural rubber

Kottayam, India – The Rubber Board of India is officially launching an electronic platform for natural rubber trading to improve the marketing efficacy of NR supply chain.

The board’s executive director Dr KN Raghavan will launch the beta version of mRube at the Rubber Research Institute of India, Kottayam on 8 June, said an announcement 7 June.

Developed in partnership with Ahmedabad-based i-Sourcing Technologies, mRube is said to follow a “simple one-time registration” and will complement the existing trade system.

“The rubber market ecosystem has changed significantly over the years with changing patterns of demand in terms of quality and quantity from the consuming sector.

“Though price realisation is relatively good for producers of quality rubber, large volumes of ungraded rubber traded are in the country,” explained the Rubber Board announcement.

These producers, it added, are losing their opportunity for want of proper market awareness.

In addition, the board said that there are also cases where growers and co-operatives find it difficult to sell rubber as per quality grades to the final consumer, which often dissuades them from producing quality material.

The trade system, therefore, is expected to bring in more transparency and market visibility, while also attracting more players from far-off places.