mRube, the online trading platform for natural rubber, has seen an impressive response from stakeholders with over 33,980 tonnes traded in 2156 contracts totaling ₹512 crore since its launch in June 2022.
The platform has attracted a total of 2,418 members, including Rubber Producer Societies, tire and non-tire manufacturers, rubber dealers, processors, and rubber estates.
mRube is the first online market for a plantation crop in India where buyers and sellers can bid for spot trade. The rapid growth of this market system in a short period of time is a testament to the positive response from stakeholders in the rubber sector, according to officials at the Rubber Board.
Balkrishna Industries in Mumbai has been awarded the Star Performer Award for the highest volume traded in mRube during 2023-24 from the tire sector, with a total of 3,612 tonnes traded.
The mRube Accolades 2024 awards include a cash prize of ₹50,000 and citations for winners in various categories. Rubfila International, Ernakulam; Manimalayar Rubbers, Agartala; Kavanar Latex, Pala; Jalebasa RPS, Tripura; Puliyanam RPS, Ernakulam; and Lissy Rubbers, Kothamangalam were among the recipients in different categories.
Loyalty awards were given to participants with the highest number of contracts executed on the platform during 2023-24, with Ceyenar Associates, Kottayam, and Soniya Rubbers, Tripura, receiving the awards.
Innovation Awards were presented to stakeholders with the highest trading volume, with Thunchathu Ezhuthachan Rubbers, Nilambur, and Vembanad Rubbers, Ernakulam, being recognized.
Classic Industries and Exports Limited was honored with the Best Performer Award for recording the highest trading volume in the non-tire sector during 2023-24.
This news was originally published on January 29, 2025.
