Pulses traders to benefit from Myanmar Commodity Exchange

The exchange offers trading in commodities across segments, with initial focus on pulses and gold

Myanmar has launched the world’s first 23x7 multi-commodity exchange for the benefit of entire value-chain participants, including traders, importers, arbitrageurs and investors.

Myanmar International Commodity Exchange Ltd (MICEx), a Pearl Group initiative, offers trading in varied commodity contracts across segments, with initial focus on pulses and gold. Being one of the largest importers of pulses from Myanmar, India will be a natural beneficiary of MiCEx.

The launch of commodity exchange will bring transparency in trade and help assessment of pulses crop in Myanmar. So far, crop estimates in Myanmar do not have any proper certification from government agencies.

"The move will strengthen the Myanmar economy and encourage the sector as well as build links to complement non-agricultural activities. Through this, we look forward to meet the changing demand and market opportunities which can lead to greater returns," said MICEx Chairman Sein Win Hlaing.

The exchange has partnered with SLCM Ltd, the wholly subsidiary of the Indian company Sohanlal Commodity Management Pvt Ltd, which has been accredited as the preferred warehouse service provider for tur, urad and other agro commodities by the exchange.

"Like India, Myanmar too has tremendous potential in nurturing the agriculture sector as the scope to increase the output is enormous. It is logical to expand and demonstrate our expertise in a region known for the sector that has a similar scalability," said Sandeep Sabharwal, Group CEO, SLCM Ltd.