Rubber Board’s digital buying and selling platform for pure rubber, dubbed ‘mRube,’ is about to launch in the course of May. According to Binoi Kurian, Deputy Director of Marketing, preparations are nearing completion for the beginning of e-market operations, which can strengthen the present provide chain by integrating the upstream and downstream segments.
The expertise companion for growing the digital commerce platform is i- Sourcing Technologies Pvt Ltd, primarily based in Ahmedabad.
According to Kurian, the Board has partnered with Federal Bank and ICICI Bank to function the fee gateway and escrow account, which can remove the fee threat for consumers and sellers who transact by this portal.
Banks have agreed to offer interest-free advances in opposition to credit score in an escrow account from consumers for the primary time within the historical past of commodity commerce, whether or not on-line or offline. He added that the Board has made preparations with the 2 partnering banks to offer rubber sellers buying and selling by this e-market with a zero-interest price facility.
How does ‘mRube’ work?
Users can even filter consumers and sellers primarily based on their geographical location, amount, rubber grade, buyer rankings, and different elements. Buyers and sellers can add their affords, and counteroffers might be quoted earlier than the commerce is confirmed. The e-market modules are suitable with cellphones, and Android and iOS variations can be found.
Because of its well-coordinated provide chain, the nation’s rubber trade has an inherent benefit of excessive advertising effectivity. With altering patterns of demand by way of high quality and amount from the buyer sector, the market ecosystem has modified considerably over time.
Despite the truth that worth realization for high quality rubber producers is comparatively good, massive volumes of ungraded rubber are traded. These producers are shedding their alternative for need of correct market consciousness.
There are additionally cases the place growers and cooperatives discover it tough to promote rubber to the ultimate shopper in response to high quality grades, which discourages them from producing high-quality materials. The supplier neighborhood seems to be shrinking as properly. From 10,512 energetic rubber sellers in 2000, the quantity fell to 9,741 in 2010, after which to 7,135 in 2020, which is regarding, in response to Kurian.
The e-trade platform goals to establish potential issues within the present rubber advertising system. Despite the truth that rubber is utilized in essential merchandise reminiscent of car tyres and tubes, surgical and pharmaceutical merchandise, and so forth, there isn’t a system in place for certifying the standard of rubber traded within the nation. The Board has developed a system for assessing rubber high quality within the digital market, which can revolutionize the home pure rubber commerce.
First revealed on: 25 Apr 2022, 06:22 IST