Rubber Board Empanels Firm for EU Export Due Diligence

Kottayam (Kerala), Aug 23 (PTI) In a major policy decision, the Rubber Board on Friday announced the empanelment of a private software company TrayamBhu Solutions Private Ltd to facilitate the issuance of due diligence certificates for Natural Rubber and its products exported to the European Union.

The Board and the Hyderabad-based software company inked a Memorandum of Understanding (MoU) here which aims to ensure compliance with the European Union Deforestation Regulations (EUDR) and drive the growth of the natural rubber (NR) exporters in India, TrayamBhu Solutions Private Ltd (TRST01) said in a statement.

The EUDR will come into effect from January 1 next year and applies to companies placing relevant commodities or products on the EU market or exporting them from it, the Board said.

"Exporters and traders must prove that their products did not originate from deforested land after December 31, 2020, and comply with laws in the country of production.

"The EUDR targets seven vital commodities, including natural rubber, and companies must demonstrate that their products are deforestation-free and not linked to forest degradation or illegal activities," it said.

The Board's secretary (in-charge) Binoi K Kurian said that it has taken proactive measures by engaging TRST01 for mapping rubber areas in India and developing a traceability system for NR product export from India.

The Board, in its statement, further said that the MoU's objectives include compliance with due diligence requirements, and the development and implementation of web/mobile applications/block-chain technologies.

"No expenses will be incurred by growers due to EUDR implementation, whereas EUDR will add value and will provide opportunity to negotiate for better prices than normal market prices.

"By obtaining certifications that address deforestation and environmental sustainability, companies can demonstrate their commitment to responsible sourcing and production practices," it said.

The company, in its statement, said that the agreement marks a pivotal moment in strengthening collaboration between industry and regulatory bodies, focusing on compliance with stringent deforestation regulations such as EUDR.

"As a technology partner to the Rubber Board, TRST01 will develop and host a software solution for issuing due diligence certificates to natural rubber products exporters in India as per EUDR requirements," the company said.

Welcoming the development, Prabir Mishra, Chief Executive Officer of TRST01, is quoted as having said, "We are thrilled to sign MoU with the Rubber Board. This MoU represents a milestone in our commitment to advancing the rubber industry through compliance with stringent deforestation regulations by the EU.

"By partnering with the Rubber Board, we are taking a significant step towards achieving our shared goals of enhancing regulatory compliance and sustainability goals."

He further said that the company's innovative and groundbreaking solution, TRST01Chain, which is being implemented for natural rubber exporters, "is set to revolutionize commodity traceability and ensure compliance with regulations like the EUDR more efficiently".