The Dalian Commodity Exchange said on Monday that it is collecting industry opinion on a draft proposal for the launch of egg futures as a part of its plan to accelerate the launch of new futures contracts.

China's annual egg production reached around 23 million tons last year and was worth some 350 billion yuan ($56.3 billion).

The egg futures contract, once launched, may hedge against some of the exchange's current agricultural product-related futures contracts including those for corn and soybean, and may enhance the quality of the entire industrial chain of egg production, the exchange said.

The price of futures can be used as an indicator for farmers so they can control their farming activities accordingly, the DCE said.

It did not give a timetable for the launch of the egg futures.

Analysts said that as eggs are one of the most common foodstuffs, the introduction of an egg futures contract may help to guide the production and management of the product.

wuyiyao@chinadaily.com.cn