红枣市场周报-20260306

1. Report Industry Investment Rating - No relevant information provided 2. Core View of the Report - This week, the price of the main contract of Zhengzhou jujube rebounded with a weekly increase of about 2.73%. After the Spring Festival, the market recovery was slow, the spot price was at a relatively low level in recent years, and the inventory was at a relatively high level in recent years. As of March 5, 2026, the physical inventory of 36 sample points of jujube this week was 11,817 tons, a decrease of 35 tons from last week, a month - on - month decrease of 0.30% and a year - on - year increase of 8.04%. The downstream replenishment was average, the processing plants had not started work intensively, and with the warming weather, jujube sales entered the off - season [9]. 3. Summary According to the Directory 3.1 Week - to - Week Summary - Market Review: The price of the main contract of Zhengzhou jujube rebounded this week, with a weekly increase of about 2.73% [9]. - Market Outlook: After the Spring Festival, the market recovery was slow, the spot price was at a low level in recent years, and the inventory was at a relatively high level. The inventory decreased slightly this week, the market was slowly recovering, the downstream replenishment was average, and the inventory removal speed was slow. As the weather warms up, jujube sales enter the off - season [9]. - Future Trading Tips: Pay attention to spot prices and the consumer side [9]. 3.2 Futures and Spot Market - Futures Price: The price of the Zhengzhou jujube 2605 contract rebounded this week, with a weekly increase of about 2.73% [13]. - Top 20 Positions: As of this week, the net position of the top 20 in jujube futures was - 20,523 lots [14]. - Warehouse Receipts: As of this week, the number of Zhengzhou jujube warehouse receipts was 3,869 [19]. - Futures Spread: As of this week, the spread between the 2605 and 2609 contracts of Zhengzhou Commodity Exchange jujube futures was - 355 yuan/ton [22]. - Basis: As of this week, the basis between the spot price of Hebei gray jujube and the main contract of jujube futures was 165 yuan/ton [25]. - Purchase Price in Main Producing Areas: As of March 6, 2026, 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 [28]. - First - Grade Jujube Spot Price: As of March 6, 2026, the wholesale price of first - grade gray jujube in Cangzhou, Hebei was 3.95 yuan/jin, and in Henan was 4.15 yuan/jin [32]. - Special - Grade Jujube Spot Price: As of March 6, 2026, the spot price of special - grade gray jujube in Cangzhou, Hebei was 9.19 yuan/kg, and the wholesale price in Henan was 9.50 yuan/kg [36]. 3.3 Industry Chain Situation - Supply - Side - Inventory: As of March 5, 2026, the physical inventory of 36 sample points of jujube this week was 11,817 tons, a decrease of 35 tons from last week, a month - on - month decrease of 0.30% and a year - on - year increase of 8.04% [41]. - Supply - Side - Yield: The jujube yield in the 2025/26 production season is expected to decline [45]. - Demand - Side - Export: In December 2025, China's jujube export volume was 5,071,577 kg, the export value was 79,876,362 yuan, the export average price was 15,749.81 yuan/ton, the export volume increased by 43.36% month - on - month and decreased by 18.20% year - on - year. From January to December 2025, the cumulative export volume was 34,362,765 kg, with a cumulative year - on - year decrease of 3.58% [48]. - Demand - Side - BOCE Trading: This week, the order volume of BOCE Xinjiang Jujube Good Brand had a small amount of transactions [53]. 3.4 Options Market and Futures - Stock Correlation - Options Market: Information about the implied volatility of at - the - money options of jujube this week is presented in the report, but specific data is not described in the text [54]. - Stock Market - Haoxiangni: The report shows the price - to - earnings ratio chart of Haoxiangni, but specific data is not described in the text [56].