苹果产业日报-20260210

Report Industry Investment Rating - Not provided Core Viewpoints - Apple pre - holiday stocking transactions are nearing the end, with merchants gradually returning home, and the packaging phenomenon in cold storage has significantly decreased. The transaction prices of stored Fuji apples in various production areas are basically stable, and the market situation has not changed much [2] - The de - stocking in production areas continues to accelerate, and merchants are actively disposing of their own inventory. As of February 4, 2026, the apple cold - storage inventory in the main production areas of the country was 619.81 million tons, a decrease of 34.25 million tons compared to last week. The de - stocking speed has accelerated compared to last week and is higher than the same period last year [2] - In the Shandong production area, the overall packaging and shipping are okay, and some pre - packed gift boxes are being sent to the market one after another, with the shipment accelerating. The transactions of fruit farmers' goods are concentrated in third - grade fruits and small fruits, and there are sporadic transactions of first - and second - grade high - quality goods. The de - stocking in Shaanxi has accelerated slightly compared to the previous period. In the Weinan and Xianyang production areas, the transactions have improved compared to before, with more merchants packing and shipping. The fruit farmers' goods are still mainly sold in two - grade sources [2] - In the sales areas, the arrival of vehicles is relatively dense, but there is a large backlog of goods in the transfer warehouses and ground vehicles. In terms of prices, the prices of ordinary fruit farmers' goods are stable with a slight downward trend, while the prices of high - quality goods remain stable. As the long holiday approaches, short - term risk control should be noted [2] Summary by Directory Futures Market - The closing price of the main apple futures contract is 9,500 yuan/ton, a decrease of 17 yuan; the position of the main contract is 94,794 lots, a decrease of 7,593 lots; the net long position of the top 20 futures holders is 6,547 lots, a decrease of 77 lots [2] Spot Market - The spot price of apples in Gansu Jingning (paper - bagged, above 75) is 5.25 yuan/jin, with no change; the spot price of apples in Shandong Yiyuan (paper - bagged, above 75) is 2.4 yuan/jin, with no change; the spot price of apples in Shaanxi Luochuan (paper - bagged, above 70 semi - commercial) is 4.2 yuan/jin, with no change; the spot price of apples in Shandong Yantai Qixia (paper - bagged, above 80 first - grade goods) is 3.7 yuan/jin, with no change [2] Upstream Situation - The annual apple output in the country is 5,128.51 million tons, an increase of 168.34 million tons; the weekly fruit wholesale price of apples is 9.55 yuan/kg, an increase of 0.08 yuan; the weekly average wholesale price of Fuji apples is 9.29 yuan/kg, a decrease of 0.04 yuan; the total weekly cold - storage inventory of apples in the country is 619.81 million tons, a decrease of 34.24 million tons; the weekly storage capacity ratio of apples in Shandong is 0.47, a decrease of 0.02; the weekly storage capacity ratio of apples in Shaanxi is not clearly stated in the decrease amount; the monthly export volume of apples is 160,000 tons, an increase of 40,000 tons; the monthly export amount of apples has a year - on - year increase of 30.7%; the monthly import amount of fresh and dried fruits and nuts is 1,775,355 million US dollars; the weekly profit of storage merchants for first - and second - grade paper - bagged 80 apples is 0.3 yuan/jin, with no change [2] Downstream Situation - The weekly fruit wholesale price of pears is 6.45 yuan/kg, a decrease of 0.07 yuan; the weekly fruit wholesale price of bananas is 6.1 yuan/kg, an increase of 0.08 yuan; the weekly fruit wholesale price of watermelons is 7.05 yuan/kg, an increase of 0.2 yuan; the weekly average daily early - morning arrival of vehicles at the Jiangmen wholesale market in Guangdong is 27.8 vehicles, an increase of 10.4 vehicles; the weekly average daily early - morning arrival of vehicles at the Xiaqiao wholesale market in Guangdong is 10.8 vehicles; the weekly average daily early - morning arrival of vehicles at the Chalong wholesale market in Guangdong is 34.2 vehicles, an increase of 16.2 vehicles [2] Option Market - The implied volatility of at - the - money call options for apples is 27.01%, with no change; the implied volatility of at - the - money put options for apples is 27.01%, a decrease of 0.02% [2]