Ruida Futures(SZ:002961) Rui Da Qi Huo·2025-08-08 10:38Report Overview - Report Title: "Red Date Market Weekly Report: Improved Purchase and Sale Atmosphere, Red Dates Continue to Rise" [2] - Report Date: August 8, 2025 [2] - Researcher: Zhang Xin [2] 1. Report Industry Investment Rating No relevant information provided. 2. Report's Core View - The purchase and sale atmosphere in the red date market has improved, and the inventory reduction process is going well. The new - season crops are in the critical fruit - setting period, and the market is focused on the weather in the production areas. The new - season production is expected to decrease, which supports the upward movement of red date futures prices. It is recommended to conduct mostly long - side trading and continuously monitor the new - season production. Future trading should pay attention to weather impacts and the consumer side [10]. 3. Summary by Directory 3.1 Week - to - Week Summary - Market Performance: The price of the main contract of Zhengzhou red dates (Zhengzao) rose this week, with a weekly increase of 5.68% [10][14]. - Inventory Situation: In the 32nd week, the physical inventory of 36 red date sample points was 9,784 tons, a decrease of 255 tons from last week, a month - on - month decrease of 2.54%, and a year - on - year increase of 72.62% [10][38]. - New - Season Production Forecast: Based on the situation in each production area compared with the normal production in 2022, the new - season production is initially estimated to be 5 - 10% lower than that in 2022 and 20 - 25% lower than that in 2024, with an expected output of 56 - 620,000 tons [10]. 3.2 Futures and Spot Market - Futures Price: The price of the main contract of Zhengzao rose, with a weekly increase of 5.68% [14]. - Top 20 Positions: As of this week, the net position of the top 20 in red date futures was - 14,042 lots [17]. - Warehouse Receipts: As of this week, the number of Zhengzao warehouse receipts was 9,214 [18]. - Futures Spread: As of this week, the spread between the 2509 and 2601 contracts of Zhengzhou Commodity Exchange red date futures was - 1,155 yuan/ton [22]. - Basis: As of this week, the basis between the spot price of Hebei grey dates and the main contract of red date futures was - 1,340 yuan/ton [23]. - New - Season Purchase Price: As of August 8, 2025, the purchase price of unified - grade red dates in Aksu was 4.8 yuan/kg, in Alar was 5.2 yuan/kg, and in Kashgar was 6 yuan/kg [26]. - First - Grade Spot Price: As of August 8, 2025, the wholesale price of first - grade grey dates in Cangzhou, Hebei was 4.60 yuan/jin, and in Henan was 4.5 yuan/jin [29]. - Super - Grade Spot Price: As of August 8, 2025, the wholesale price of super - grade grey dates in Cangzhou, Hebei was 10.2 yuan/kg, and in Henan was 10 yuan/kg [33]. 3.3 Industry Chain Situation - Supply Side - Inventory: In the 32nd week, the physical inventory of 36 red date sample points was 9,784 tons, a decrease of 255 tons from last week, a month - on - month decrease of 2.54%, and a year - on - year increase of 72.62% [38]. - Supply Side - Production Forecast: The crops are growing well, and the red date production in the 2024/25 season is expected to recover [43]. - Demand Side - Export Volume: In June 2025, China's red date export volume was 1,765,107 kg, a month - on - month decrease of 20.82%. From January to June, the cumulative export volume was 17,115,674 kg, a month - on - month increase of 11.50% [46]. - Demand Side - BOCE Trading: This week, the order volume of BOCE Xinjiang Zao Hao brand did not have any transactions [50]. 3.4 Option Market and Futures - Stock Correlation - Option Market: Information about the implied volatility of at - the - money options of red dates this week is presented, but no specific data is given [52]. - Stock Market - Haoxiangni: A graph of Haoxiangni's price - earnings ratio is presented, but no specific analysis is provided [54].