Rubber Board’s Electronic Trading Platform mRube to go live. Rubber Board’s electronic trading platform, mRube, will go live on June 8. The technology partner is Ahmedabad-based i-Sourcing Technologies. mRube requires only a single registration. The beta version of the electronic platform will be launched at a function attended by the Rubber Producer Society and other industry representatives, according to KN Raghavan, Executive Director.
As befits a country with a large population of technologists, digital technology is now coming to the aid of the Indian natural rubber sector. The Rubber Board is taking the e-commerce route to reshape how the commodity market operates in order to overcome the factors that limit the efficacy of the domestic supply chain for Natural Rubber (NR).
About the Rubber Board
The Rubber Board is a statutory body established by the Government of India under the Rubber Act 1947 to promote the overall development of the country’s rubber industry. Rubber Board was founded on April 18, 1947, with its headquarters in Kottayam, Kerala.
The portal, which is currently being tested, is set to go live in the second week of May. E-market mobile applications for Android and iOS are also available.
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How does ‘mRube’ work?
Users can also sort buyers and sellers by geographical location, quantity, rubber grade, customer ratings, and other criteria. Before the trade is confirmed, buyers and sellers can upload their offers and counteroffers. The e-market modules are mobile phone compatible, with Android and iOS versions available.
The goal of the e-trade platform is to identify potential issues with the current rubber marketing system. Despite the fact that rubber is used in critical products such as automobile tyres and tubes, surgical and pharmaceutical products, and so on, the country lacks a system for certifying the quality of rubber traded. The Board has created a system for evaluating rubber quality in the electronic market, which will transform the domestic natural rubber trade.