Trading body fix a single measurement for trade

by Mizzima News

Tuesday, 10 March 2009 23:55

Rangoon (Mizzima) – Authorities have issued a standard weight measurement – Viss (3.6 lbs) for all kinds of trading beginning from April, a national trade body said. The Union of Myanmar Chamber of Commerce and Industry (UMFCCI), said the government has approved using the ‘Viss’ as the standard weight measurement for all trading. Earlier, various traders such as, rice, oil, and groceries have different measures including Viss and Baskets. Sein Hlaing, secretary of the UMFCCI said the government has now made that 'viss' will be the standard weight measurement for trading fixed by the UMFCCI. According to him, currently there are 11 major commodity exchanges in Rangoon, Mandalay, Pakokku, Monywa and even smaller exchanges in other parts of the country for paddy, beans and pulses, sesame and onion trading. But a trader at Rangoon’s Bayintnaung Commodity Exchange said, the new system still fall short of the standard being maintained in global foreign trades. "In international trade, 'Ton' is being used. The use of various measurements could be exploit by traders to make profits by stealing the measurements,” the trader said. The UMFCCI said it has come to this conclusion of using the ‘Viss’ as the standard measurement after discussing with various traders and trading houses. And finally agreed to apply a single measurement of weight on January  27. < Prev   Next >