Rui Da Qi Huo·2025-12-19 09:22Report Overview - Report Title: Red Date Market Weekly Report [2] - Report Date: December 19, 2025 [2] - Researcher: Wang Cuibing [3] 1. Report Industry Investment Rating - Not provided in the report 2. Core Viewpoints - This week, the price of the main contract of Zhengzhou red dates futures fell by about 0.34%. The Xinjiang procurement is nearing completion, and the follow - up market trend depends on the peak - season consumption performance. If the terminal demand is released as expected, the inventory clearance speed may accelerate and support the market to stabilize; otherwise, the inventory pressure may increase. With short - term supply being loose and demand showing no obvious improvement, the red date price is expected to remain weak [9][10] 3. Summary by Directory 3.1 Week - to - Week Summary - Future trading tips include monitoring spot prices and the consumer side - The price of the main contract of Zhengzhou red dates futures fell by about 0.34% this week - As of December 18, 2025, the physical inventory of 36 sample points of red dates was 16,108 tons, an increase of 318 tons from last week, a 2.01% week - on - week increase and a 34.68% year - on - year increase [9] 3.2 Futures and Spot Market - Futures price: The price of the Zhengzhou red dates 2605 contract fell by about 0.34% this week [10] - Top 20 futures positions: As of this week, the net position of the top 20 in red dates futures was - 10,420 lots [14] - Futures warehouse receipts: As of this week, the number of Zhengzhou red dates warehouse receipts was 1,092 [18] - Futures price spread: As of this week, the price spread between the Zhengzhou Commodity Exchange red dates 2605 contract and the 2609 contract was - 310 yuan/ton [21] - Basis: As of this week, the basis between the Hebei gray date spot price and the main contract of red dates futures was 735 yuan/ton [24] - Procurement price in the main production area: As of December 19, 2025, the unified purchase price of red dates in Aksu was 5.15 yuan/kg, in Alar was 5.65 yuan/kg, and in Kashgar was 6.5 yuan/kg [27] - First - grade red date spot price: As of December 19, 2025, the wholesale price of first - grade gray dates in Cangzhou, Hebei was 4.35 yuan/jin, and in Henan was 4.45 yuan/jin [31] - Super - grade red date spot price: As of December 19, 2025, the spot price of super - grade gray dates in Cangzhou, Hebei was 9.63 yuan/kg, and the wholesale price in Henan was 9.9 yuan/kg [35] 3.3 Industry Chain Situation - Supply side - Inventory: As of December 18, 2025, the physical inventory of 36 sample points of red dates was 16,108 tons, an increase of 318 tons from last week, a 2.01% week - on - week increase and a 34.68% year - on - year increase [40] - Supply side - Production decline: The red date production in the 2025/26 season is expected to decline [44] - Demand side - Export: In October 2025, China's red date export volume was 2,205,220 kg, the export value was 35,238,139 yuan, and the export average price was 15,979.42 yuan/ton. The export volume decreased by 3.44% month - on - month and 33.29% year - on - year. From January to October 2025, the cumulative export volume was 25,753,622 kg, a 0.18% year - on - year increase [48] - Demand side - BOCE trading: This week, the BOCE Xinjiang red date "Good Brand" had a small amount of trading in orders [53] 3.4 Options Market and Futures - Stock Correlation - Options market: The implied volatility of at - the - money options for red dates this week is presented in the report, but specific data is not summarized [54] - Stock market - Haoxiangni: The report shows the price - earnings ratio chart of Haoxiangni, but no specific data is summarized [56]