[note 1] It was in the "Haver-o-peso house" that the taxes over goods brought from the Amazon forests, rivers and countryside should be paid to the Portuguese crown, but only after their weight was measured, hence the name, which later suffered a contraction.

In 1625, in the area of the Igarapé do Piri (the current Mercado Ver-o-Peso), the Portuguese installed the commercial inspection post Casa de Haver o Peso, to control the weight and collect taxes on goods brought to the headquarters of the Captaincy of Grão-Pará (State of Maranhão), granted by a royal provision to the Chamber of Belém.

In 1803, during the government of Marcos de Noronha e Brito, Count of Arches, the igarapé do Piri was filled in to meet the urban advances of Belém.

Thus, new urban changes occurred: the margin of Guajará Bay was filled in, and important buildings were made following the European architectural pattern of eclectic style, influenced by art nouveau,[7] among them: the Meat Market (1867), Antônio Lemos Palace (1873), and Theatro da Paz (1878).

In 1998 and 2002, the second renovation occurred in stages, under the municipal administration of Edmilson Rodrigues, with general intervention in the fair, contemplating landscape aspects of the place and qualifying the market vendors.