mRube, the electronic market promoted by Rubber Board, has garnered a revenue of ₹332.81 crore till March 31 after trading 24,487 tonnes of natural rubber under 1,369 contracts since its inception in June 2022.
The trade during the first year of operations was worth ₹108 crore and grew more than 200 per cent in the second year.
According to officials, mRube is meant to streamline domestic natural rubber supply chain with market visibility and transparency. As on date, 1,955 dealers and/or processors and tyre and non-tyre manufacturers have been onboarded on the platform.
Trading features
The board developed the platform to keep step with the technical advancements in commodity marketing and for hassle-free trade in rubber. Buyers and sellers can bid and negotiate for spot trade on the platform. mRube offers a borderless trade system and improved market accessibility, officials said.
The e-market has systems for negotiating price, trade terms, delivery conditions, quality features, and so on for trading in various grades of natural rubber.
Officials said it also enables trade links in new markets; personalised trade pages; filtering options to list buyers/sellers according to geographical area/grade of rubber; mechanism for certifying quality of rubber; escrow account for covering risk of buyers/sellers; interest-free advance facility for sellers through the escrow account; and data security.