瑞达期货苹果产业日报-20251216

Report Industry Investment Rating - Not provided Core Viewpoints - As of December 11, 2025, the apple cold storage inventory in the main producing areas of China decreased by 49,700 tons compared to the previous week. The storage capacity ratio in Shandong and Shaanxi decreased. The sales atmosphere in Shandong was still weak, and the shipment in Shaanxi was relatively cold. The arrival volume in the sales area decreased, and the sales were not fast due to high prices. Oranges and other citrus fruits impacted apple sales. The current festival stocking was light, and there was a possibility of short - term price decline [2] Summary by Directory Futures Market - The closing price of the apple futures main contract was 9,129 yuan/ton, and the main contract position was 152,850 lots, an increase of 3,019 lots. The net long position of the top 20 futures holders was 2,946 lots, an increase of 5,073 lots [2] Spot Market - The spot prices of apples in Gansu Jingning, Shandong Yiyuan, Shaanxi Luochuan, and Shandong Yantai Qixia remained unchanged, at 5.25 yuan/jin, 2.6 yuan/jin, 4.2 yuan/jin, and 4 yuan/jin respectively [2] Upstream Situation - The annual apple output in China was 51.2851 million tons, an increase of 1.6834 million tons. The weekly average wholesale price of apples was 9.37 yuan/kg, a decrease of 0.01 yuan/kg. The weekly average wholesale price of Fuji apples was 9.13 yuan/kg, a decrease of 0.06 yuan/kg. The total cold storage inventory of apples in China was 7.5855 million tons, a decrease of 49,600 tons. The storage capacity ratio of apples in Shandong was 53.73%, a decrease of 0.24%. The storage capacity ratio of apples in Shaanxi was 57.86%, a decrease of 0.35%. The monthly export volume of apples was 80,000 tons, an increase of 10,000 tons [2] Industry Situation - The monthly import amount of fresh and dried fruits and nuts decreased by 58%. The monthly year - on - year export amount of apples decreased by 14.3%. The weekly profit of 80 first - and second - grade paper - bag apple storage merchants was 0 yuan/jin [2] Downstream Situation - The weekly wholesale prices of pears, bananas, and watermelons were 6.74 yuan/kg, 5.47 yuan/kg, and 6.33 yuan/kg respectively. The weekly average daily arrival volume of trucks at the Guangdong Jiangmen, Guangdong Chalong, and Guangdong Xiaqiao wholesale markets was 14.6, 17.8, and 23.8 respectively, with decreases of 2.6, 1.8, and 3 respectively [2] Option Market - The implied volatility of at - the - money call options and at - the - money put options for apples was 23.28% and 23.3% respectively, with increases of 1.02% and 1.04% [2] Industry News - The price of general - quality late - Fuji apples from fruit farmers in the producing areas weakened, and the transaction did not improve significantly. The shipment speed of late - Fuji apples in the producing areas was slow. The price in the Gansu producing area decreased with the decline in quality, while the prices in other producing areas remained stable [2]