Dr. K. N. Raghavan, Director General of the Rubber Board, India
The Kerala-based Rubber Board is ready to launch online trading for natural rubber (NR), as an alternative marketing for the physical transaction of NR.
To finalize partners for setting up an electronic platform in India, the Rubber Board will call for Expressions of Interest (EoI). Trading is expected to start in the next few months, according to the Director General of the Rubber Board, Dr K. N. Raghavan.
Currently, NR transactions are carried out on the conventional ‘spot’ basis, with informal ‘understandings’. Now, with dwindling interest amongst the younger generation in NR trading due to shrinking margins, as well as the keenness of the government to initiate electronic platforms for all agricultural commodities, the time is ripe for e-trade of NR.
The e-trading platform is envisioned as a trade facilitation platform where buyers and sellers can bid for the required quantities of the commodity. A much-needed system for quality certification will be instituted, as part of the e-trading and a payment gateway will be made available for the transfer of money.