红枣市场周报-20251226

Report Industry Investment Rating - No relevant information provided 2. Core Viewpoints of the Report - This week, the price of the main contract of Zhengzhou jujube futures rose, with a weekly increase of about 0.96%. From the current supply - demand situation, the supply of sub - standard products has increased significantly. The inventory of 36 sample points decreased by 1.30% week - on - week and increased by 37.17% year - on - year. The acquisition in Xinjiang is coming to an end, and the processing enterprises are speeding up production and sales. The sales area is entering the peak consumption season, and the short - term decline in jujube prices may slow down [9][10] 3. Summary According to the Directory 3.1 Week - on - Week Summary - Future trading tips include monitoring spot prices and the consumer side - This week, the price of the main contract of Zhengzhou jujube futures rose, with a weekly increase of about 0.96% - As of December 25, 2025, the physical inventory of 36 sample points of jujubes was 15,898 tons, a decrease of 210 tons from last week, a week - on - week decrease of 1.30% and a year - on - year increase of 37.17% - The acquisition in Xinjiang is coming to an end. Processing enterprises in Xinjiang and the mainland are actively arranging production and accelerating the pace of shipment. The market arrival volume is gradually increasing. The sales area is entering the peak consumption season, and the short - term decline in jujube prices may slow down [9] 3.2 Futures and Spot Market - Futures price trend: The price of the Zhengzhou jujube 2605 contract rose this week, with a weekly increase of about 0.96% [10] - Top 20 positions: As of this week, the net position of the top 20 in jujube futures was - 15,321 lots [13] - Warehouse receipts: As of this week, the number of Zhengzhou jujube warehouse receipts was 1,092 [17] - Futures price spread: As of this week, the price spread between the Zhengzhou Commodity Exchange jujube futures 2605 contract and the 2609 contract was - 250 yuan/ton [18] - Basis: As of this week, the basis between the spot price of Hebei grey jujubes and the main contract of jujube futures was 580 yuan/ton [23] - Purchase price of bulk jujubes in the main production areas: As of December 26, 2025, the bulk jujube price in Aksu was 5.15 yuan/kg, in Alar was 5.65 yuan/kg, and in Kashgar was 6.5 yuan/kg [26] - Spot price of first - grade jujubes: As of December 26, 2025, the wholesale price of first - grade grey jujubes in Cangzhou, Hebei was 4.20 yuan/jin, and in Henan was 4.35 yuan/jin [30] - Spot price of special - grade jujubes: As of December 26, 2025, the spot price of special - grade grey jujubes in Cangzhou, Hebei was 9.56 yuan/kg, and the wholesale price in Henan was 9.7 yuan/kg [34] 3.3 Industry Chain - Supply side - Inventory: As of December 25, 2025, the physical inventory of 36 sample points of jujubes was 15,898 tons, a decrease of 210 tons from last week, a week - on - week decrease of 1.30% and a year - on - year increase of 37.17% [39] - Supply side - Production decline possibility: The jujube production in the 2025/26 season is expected to decline [43] - Demand side - Export volume: In October 2025, China's jujube export volume was 2,205,220 kg, with an export value of 35,238,139 yuan and an average export price of 15,979.42 yuan/ton. The export volume decreased by 3.44% month - on - month and 33.29% year - on - year. The cumulative export from January to October 2025 was 25,753,622 kg, a cumulative year - on - year increase of 0.18% [47] - Demand side - BOCE Xinjiang jujube trading: This week, the BOCE Xinjiang jujube "Good Brand" had a small amount of orders [52] 3.4 Options Market and Futures - Stock Relationship - Options market: The implied volatility of at - the - money jujube options this week is presented in the report, but no specific data is summarized here - Stock market - Haoxiangni: The report shows the price - to - earnings ratio chart of Haoxiangni, but no specific analysis data is summarized here