Egg futures to trade in Dalian

China will start trading of its first egg futures in Dalian on Friday.

The initiative is an effort to unify egg pricing and protect farmers from price swings.

Trading margin is set at 8 percent of contract value and daily price movement is limited at 4 percent.

A standard lot size is five tons with a minimum price movement of 1 yuan per 500 kilograms. The contracts are available every month and physical delivery is required if positions are not settled before a contract matures.

The egg futures is the latest in China's effort to broaden the range of produce futures to promote production.