红枣市场周报-20251231

Report Industry Investment Rating - Not provided in the content 2. Core View of the Report - The price of the main Zhengzhou jujube contract fell this week, with a weekly decline of about 0.17%. The acquisition of grey jujubes in Xinjiang's production areas is coming to an end, and there is limited remaining supply and few transactions. The raw material acquisition in production areas is based on quality, adhering to the principle of better quality commanding a higher price. In the sales markets, the Hebei Cuierzhuang market has received both finished products and sub - standard jujubes. Local processing plants mainly process and sell their own goods, and holders are actively selling, while downstream customers purchase as needed. The Guangdong Ruyifang market mainly receives goods from Xinjiang, with average transactions. Overall, the market supply is sufficient, but the "peak season not prosperous" situation in demand persists. It is expected that the short - term weakness will continue [9][10] 3. Summary by Directory 3.1 Week - to - Week Key Points Summary - Future trading tips include monitoring spot prices and the consumer side - The price of the main Zhengzhou jujube contract fell, with a weekly decline of about 0.17% - The acquisition of grey jujubes in Xinjiang's production areas is ending, with limited remaining supply and few transactions. The sales markets have sufficient supply but weak demand, and short - term weakness is expected to continue [9] 3.2 Futures and Spot Market - Futures Price: The price of the Zhengzhou jujube 2605 contract fell this week, with a weekly decline of about 0.17% [10] - Top 20 Positions: As of this week, the net position of the top 20 in jujube futures was - 16,613 lots [13] - Warehouse Receipts: As of this week, the number of Zhengzhou jujube warehouse receipts was 2,120 [17] - Futures Spread: As of this week, the spread between the Zhengzhou Commodity Exchange's jujube futures 2605 contract and 2609 contract was - 265 yuan/ton [18] - Basis: As of this week, the basis between the Hebei grey jujube spot price and the main jujube futures contract was 615 yuan/ton [23] - Purchase Price in Main Production Areas: As of December 31, 2025, the purchase price of jujube bulk goods in Aksu was 5.15 yuan/kg, in Alar was 5.65 yuan/kg, and in Kashgar was 6.5 yuan/kg [26] - First - Grade Jujube Spot Price: As of December 31, 2025, the wholesale price of first - grade grey jujubes in Cangzhou, Hebei was 4.15 yuan/jin, and in Henan was 4.35 yuan/jin [30] - Superior - Grade Jujube Spot Price: As of December 31, 2025, the spot price of superior - grade grey jujubes in Cangzhou, Hebei was 9.53 yuan/kg, and the wholesale price in Henan was 9.7 yuan/kg [34] 3.3 Industry Chain Situation - Supply Side - Inventory: According to Mysteel's agricultural product research data, as of December 25, 2025, the physical inventory of 36 sample points of jujubes this week was 15,898 tons, a decrease of 210 tons from last week, a month - on - month 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: According to customs data, in November 2025, China's jujube export volume was 3,537,566 kg, the export value was 53,004,642 yuan, the export average price was 14,983.36 yuan/ton. The export volume increased by 60.42% month - on - month and decreased by 5.18% year - on - year. The cumulative export from January to November was 29,291,188 kg, with a cumulative year - on - year decrease of 0.50% [47] - Demand Side - BOCE Xinjiang Jujube Trading: The BOCE Xinjiang jujube "Good Brand" had few transactions this week [52] 3.4 Options Market and Futures - Stock Correlation - 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 - Hao Xiang Ni: The report shows the price - to - earnings ratio chart of Hao Xiang Ni (002582), but no specific data is analyzed [56]