mRube: Introduction
- As Rubber Board’s e-trading platform mRube went live on June 8, growers and traders viewed it with a sense of cautious optimism, unsure how it will pan out.
- With mRube board intends to complement the existing trade system for rubber by introducing more transparency coupled with quality assurance and payment security.
- It also envisages market visibility and increased efficiency in the domestic supply chain through the electronic platform.
mRube: Know about the Rubber Board of India
- The Rubber Board is a statutory body constituted by the Government of India, under the Rubber Act 1947, for the overall development of the rubber industry in the country.
- Members:
- The Board is headed by a Chairman appointed by the Central Government and has 28 members representing various interests of natural rubber industry.
- Functions:
- To promote by such measures as it thinks fit the development of the rubber industry.
- To advise the Central Government on all matters relating to the development of the rubber industry, including the import and export of rubber.
- To submit to the Central Government and such other authorities as may be perscribed, half yearly reports on its activities and the working of this Act.
mRube: What are the Loopholes in Rubber Marketing?
- The rubber trade in the country possesses an innate advantage of high-level marketing efficiency owing to its coherent supply chain.
- The market eco-system has been changed significantly over years with changing patterns of demand in terms of quality and quantity from the consuming sector.
- Though price realization is relatively good for producers of quality rubber, large volumes of ungraded rubber are traded.
- These producers are losing their opportunity for want of proper market awareness.
- 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 in producing quality material.
- The size of the dealer fraternity is also seen shrinking.
mRube: Importance of ‘mRube’
- The e-trade platform attempts to figure out certain impending issues in the existing rubber marketing system.
- Despite being used in the manufacture of products with critical importance like automobile tyre and tubes, surgical and pharmaceutical products, etc, there is no systematic arrangement for certifying quality of rubber traded in the country.
- The Board has a system for assaying quality of rubber in the electronic market, which will be a game changer in the domestic natural rubber trade.
mRube: How ‘mRube’ works?
- ‘mRube’ allows users to filter out buyers and sellers according to their geographical location, quantity, grade of rubber, customer ratings, etc.
- The buyers and sellers can upload their offer and there is provision for quoting counter offers before confirming the trade.
- The e-market modules are mobile phone compatible and Android and ios versions are also ready for use.
mRube: Conclusion
E-trade like ‘mRube’ has the potential to bring more business to existing rubber dealers, processors and manufacturers by reaching out to new sellers and buyers, even in far-off places.