mRube online platform for natural rubber trade gains traction

The Rubber Board’s flagship project mRube, an electronic platform for trading in natural rubber, has so far traded nearly 34,000 tonnes since June 2022. The volumes are expected to go up this year, say Rubber Board officials.
| Photo Credit: H. VIBHU

The Rubber Board’s mRube, an electronic platform for trading in natural rubber, is gaining traction having transacted business for more than 33,980 tonnes of the commodity in 2,156 contracts worth ₹512 crore so far. mRube was launched in June 2022.

Rubber Board sources said mRube was India’s first online market for plantation crops enabling buyers and sellers to bid for spot trade.

The Mumbai-based Balkrishna Industries recently won the star performer award for the highest volume traded on mRube during 2023-24 from the tyre sector having traded 3,612 tonnes of natural rubber in 2023-24. The other honours from the Rubber Board for the utilisation of the electronic platform included Rubfila International Limited, Ernakulam, Manimalayar Rubbers Pvt Limited, Agartala, Kavanar Latex Limited, Pala, Jalebasa RPS, Tripura, Puliyanam RPS, Ernakulam, and Lissy Rubbers (P) Limited, Kothamangalam, in non-tyre sector and different categories like dealers, processors, Rubber Producer Societies, and latex processing.

The Rubber Board rolled out the portal to keep abreast with technical advancement in commodity marketing and for hassle-free trade.

The e-market platform has built-in features for negotiating price, trade terms, delivery conditions, and quality features. mRube has been designed to enhance transparency in rubber trade and improve market visibility by complementing the existing trade system in the country.

A total of 2,418 members have so far been onboarded in the e-market comprising Rubber Producer Societies, manufacturers from tyre and non-tyre sectors, rubber dealers, processors, and rubber estates. Sheet rubber, block rubber, and latex concentrates can be traded through the e-market portal.

Filtering options to list buyers/sellers in geographical location/price/grade, provision of escrow facility for covering payment risk, OTP-based formal trade contracts, personalised trade pages, interest-free advance facility for sellers subject to conditions set by the bank, provision for rating the trade are some of the unique features of the platform.

All Rubber Board licensed manufacturers, dealers, processors and Rubber Producer Societies registered with Board can register through this platform using the link https://www.mrube.in/en-US/login.