苹果日报-20260310

Group 1: Report Industry Investment Rating - Not provided in the content Group 2: Core View of the Report - The fundamental situation of apples is strong. The cold - storage inventory of apples is at a relatively low level in the same period over the years. As of February 27, 2026, the cold - storage inventory of apples in the main producing areas was 552.92 million tons, a decrease of 19.08 million tons from the previous week and a year - on - year decrease of 18.11 million tons, with a decline of 3.2%. The inventory is only higher than that in the 2018/19 fruit season. Although the apple price is relatively high this season, the pre - Spring Festival sales and out - of - storage situation is okay. From March to April after the Spring Festival is a relatively empty window period for other fruits to be on the market, and the recent apple sales situation has improved, with the inventory reduction speed accelerating compared with last week. With March entering the delivery month, the market pays attention to whether cold - storage apples can meet the delivery requirements and the cost of making warehouse receipts again. The fundamentals of the May apple contract are strong, but the price of the May contract has increased significantly today, and there may be some profit - taking orders for closing positions. It is necessary to be cautious when chasing high. It is recommended to build long positions after a pullback [5]. Group 3: Summary According to the Catalog First Part: Market Information - Spot Prices: The Fuji apple price index is 110.41, with the next - working - day price at 110.56, a decrease of 0.15. The prices of various apple varieties such as Luochuan semi - commodity paper - bag 70, Qixia first - and second - grade paper - bag 80, etc., remain stable. The average wholesale price of 6 kinds of fruits is 7.94, with the next - working - day price at 8.00, a decrease of 0.06 [2]. - Futures Prices: For AP01, the price is 8573, up 33 from the previous close; AP05 is 10287, down 29 from the previous close; AP10 is 8637, down 15 from the previous close. The spreads between different contracts also have corresponding changes [2]. - Basis: The basis of Qixia first - and second - grade 80 - AP01 is - 573, down 33 from the previous trading day; Qixia first - and second - grade 80 - AP05 is - 2287, up 29 from the previous trading day; Qixia first - and second - grade 80 - AP10 is - 637.0, up 15 from the previous trading day [2]. Second Part: Market News and Views - Apple Market News - Transaction Logic: As mentioned above, the apple fundamentals are strong, with low inventory, good sales, and market attention on delivery - related issues [5]. - Transaction Strategy: For the single - side strategy, considering that the price of the May contract is already high, it is recommended to leave the market and wait and see. For the arbitrage and option strategies, it is also recommended to wait and see [8]. - Other Data: As of March 5, 2026, the cold - storage inventory of apples in the main producing areas was 527.53 million tons, a decrease of 25.39 million tons from the previous week and a year - on - year decrease of 21.7 million tons, with a decline of 4.1%. In December 2025, the export volume of fresh apples was about 15.65 million tons, a month - on - month increase of 28.63% and a year - on - year increase of 26.76%. The import volume in December 2025 was 0.31 million tons, a month - on - month increase of 21.31% and a year - on - year increase of 20.02%. The annual cumulative import volume in 2025 was 11.68 million tons, a year - on - year increase of 19.72%. The apple prices in Shandong are stable, while those in some areas of Gansu and Shaanxi have increased slightly [7]. Third Part: Related Attachments - There are 10 figures in total, including the price of Qixia first - and second - grade paper - bag 80, the price of Luochuan semi - commodity paper - bag 70, AP contract main - force basis, spreads between different contracts, apple arrival volume, 6 - fruit prices, national cold - storage apple inventory, and national cold - storage apple out - of - storage volume [10][11][13]