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mRube, the electronic trading platform for natural rubber, is getting overwhelming response from stakeholders by trading more than 33,980 tonnes in 2156 contracts worth ₹512 crore since it started operations in June 2022.
A total of 2,418 members had so far on-boarded in e-market comprising Rubber Producer Societies, manufacturers from tyre and non-tyre sector, rubber dealers, processors and rubber estates.
mRube is the first of its kind online market for any plantation crop in India wherein buyers and sellers could bid for spot trade. The response received from stakeholders in rubber sector has accentuated the growth of this market system in a short span of time, said Rubber Board officials. .
Balkrishna Industries, Mumbai, has won the star performer award for the highest volume traded in mRube during 2023-24 from the tyre sector, having traded 3,612 tonnes in 2023-24.
The award
The mRube Accolades 2024 best performer awards constitutes of a price money of ₹50,000 and citation to the winners in various categories.
Rubfila International, Ernakulam; Manimalayar Rubbers, Agartala; Kavanar Latex, Pala; Jalebasa RPS, Tripura; Puliyanam RPS, Ernakulam; Lissy Rubbers, Kothamangalam too won the best performer awards in non-tyre sector, dealer category, processor category, RPS in N-E region, RPS in other than NE region, and latex processing categories, respectively.
The mRube loyalty awards were conferred on participants who executed the highest number of contracts in the platform during 2023-24. The award includes prize money of ₹25,000 along with a citation. Ceyenar Associates, Kottayam and Soniya Rubbers, Tripura were the recipients.
The mRube Innovation Awards were presented to stakeholders who achieved the highest trading volume. The award comprises a prize of ₹25,000 along with a citation and the winners were Thunchathu Ezhuthachan Rubbers, Nilambur and Vembanad Rubbers, Ernakulam.
Classic Industries and Exports Limited has been honored with the mRube Best Performer Award for recording the highest trading volume in the non-tyre sector during 2023-24.
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