Bayinnaung Market
Encyclopedia
Bayinnaung Market located in northwestern Yangon
, is the largest agricultural commodities trading market in Myanmar
. Established in 1990, the market complex consists of two-story shop houses with floor areas of 1200 and 2400 square feet (223 m²). It is the only legally permitted wholesale center of beans and pulses in the country, which exported 1.34 million tonnes of beans and pulses in 2007 for a total value of US$750 million.
Matpe is the most common bean and pulse export at the market. In August 2009, about 4000 tonnes of matpe, green mung, pigeon peas and chickpeas were traded daily. The market is also the main wholesale center of dried fish and prawns for mainly domestic markets.
The market is at the center of the planned Internet-based commodities information network that will link all of the country's wholesale commodity exchange centers, to achieve consistent pricing and operations in line with international market prices. Myanmar’s wholesale commodity exchanges are currently only connected by telephone. As of October 2008, only Banyinnaung has the system, which displays local prices for beans and pulses in real time. Domestic and international prices for edible oil crops, onions, garlic, potatoes, chili are expected to be added soon. Since August 2009, the Myanmar Pulses, Beans and Sesame Seed Merchants’ Association requires that all domestic and international transactions be concluded here at Bayinnaung Market.
Yangon
Yangon is a former capital of Burma and the capital of Yangon Region . Although the military government has officially relocated the capital to Naypyidaw since March 2006, Yangon, with a population of over four million, continues to be the country's largest city and the most important commercial...
, is the largest agricultural commodities trading market in Myanmar
Myanmar
Burma , officially the Republic of the Union of Myanmar , is a country in Southeast Asia. Burma is bordered by China on the northeast, Laos on the east, Thailand on the southeast, Bangladesh on the west, India on the northwest, the Bay of Bengal to the southwest, and the Andaman Sea on the south....
. Established in 1990, the market complex consists of two-story shop houses with floor areas of 1200 and 2400 square feet (223 m²). It is the only legally permitted wholesale center of beans and pulses in the country, which exported 1.34 million tonnes of beans and pulses in 2007 for a total value of US$750 million.
Matpe is the most common bean and pulse export at the market. In August 2009, about 4000 tonnes of matpe, green mung, pigeon peas and chickpeas were traded daily. The market is also the main wholesale center of dried fish and prawns for mainly domestic markets.
The market is at the center of the planned Internet-based commodities information network that will link all of the country's wholesale commodity exchange centers, to achieve consistent pricing and operations in line with international market prices. Myanmar’s wholesale commodity exchanges are currently only connected by telephone. As of October 2008, only Banyinnaung has the system, which displays local prices for beans and pulses in real time. Domestic and international prices for edible oil crops, onions, garlic, potatoes, chili are expected to be added soon. Since August 2009, the Myanmar Pulses, Beans and Sesame Seed Merchants’ Association requires that all domestic and international transactions be concluded here at Bayinnaung Market.