M Rube, e-trading platform for natural rubber

BANKING AND ECONOMY

mRube, the electronic trading platform promoted by Rubber Board will go live from June 8. The Ahmedabad-based i-Sourcing Technologies is the technology partner. mRube follows a simple one-time registration. KN Raghavan, Executive Director will launch the beta version of the electronic platform at a function in the presence of the Rubber Producer Society and other industry representatives.

The producers are losing their opportunity for want of proper market awareness. 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.

 

   Important Points for the exam:

  • mRube, the electronic trading platform promoted by Rubber Board will go live from June 8.
  • The Ahmedabad-based i-Sourcing Technologies is the technology partner.
  • The e-market for rubber will be a game-changer in the rubber marketing system. 
  • Buyers and sellers can upload their offers, and counteroffers can be quoted before the trade is confirmed. 
  • The e-market modules are compatible with mobile phones, and Android and iOS versions are available.

   Facts to Know:

  • The Rubber Board is a statutory organization constituted under Section (4) of the Rubber Act, 1947 
  • It functions under the administrative control of Ministry of Commerce and Industry. 
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