17-19, June 2020, HO CHI MINH CITY

Alibaba and RAT cooperates to hold the auction system for rubber

RAT and Alibaba expect this project to bring at least 200,000 tonnes of Thai rubber

One of the highlights of the world rubber market is that Alibaba's proposed the cooperation with the Thai Rubber Authority of Thailand (RAT) to organize the auction system for Thai rubber.

Mr. Nakorn Tangavirapat, deputy director of the Thai Rubber Authority (RAT), said the Alibaba group leaders had a visit to the RAT office to request the collection and certification of natural rubber supplies for online auction project. Previously, Alibaba asked the Rubber Authority of Thailand (RAT) to organize an auction system for Thai rubber for Chinese buyers. With this system, the annual sales forecasted is at least 200.000 tonnes.

This is considered to be an e-commerce transaction designed in order to allow buyers in China to bid for Thai natural rubber from the convenience of their own homeland. According to RAT, farmer’s organizations would be able to provide high quality rubber and meet Chinese demand. To build an online auction system and application software that meets the requirements of buyers in China, and provides a variety of Thai natural rubber products, including including rubber sheets, smoked rubber, block rubber and cup lumps, the authorities will consider selecting a suitable location

As the largest importer of rubber in the world, the project in cooperation with China will help stabilize Thai rubber prices and increase domestic rubber prices for rubber growers, helping to improve the domestic rubber market. RAT and Alibaba expect the project to bring at least 200,000 tonnes of Thai rubber annually.

Rubber & Tyre Vietnam, The International Exhibition & Conference on Rubber Industry and Tyre Manufacturing anually held in Vietnam, is an ideal place for connecting, enhancing and expanding businesses. Please come to visit Rubber & Tyre Vietnam 2019, which will take place from 26th – 28th June 2019 at Saigon Exhibition and Convention Center (SECC) in Ho Chi Minh City.

Source: tapchicaosu.vn

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