瑞达期货苹果产业日报-20260319

1. Report Industry Investment Rating - No information provided about the industry investment rating 2. Core Viewpoints - As of March 18, 2026, the inventory in apple cold storage in major production areas decreased, and the de - stocking speed accelerated. The apple market maintains a differentiated pattern of stronger in the west and stable in the east. High - quality goods are scarce and prices are firm. It is expected that the apple futures price still has room to rise in the short term [2] 3. Summary by Directory 3.1 Futures Market - The closing price of the apple futures main contract is 10,611 yuan/ton, with a week - on - week increase of 490; the main contract position is 93,146 lots, with a week - on - week increase of 2,130; the net buying volume of the top 20 positions in futures is 10,570 lots, with a week - on - week increase of 5,712 [2] 3.2 Spot Market - The spot price of apples in Gansu Jingning (paper - bagged above 75) is 5.25 yuan/jin; in Shandong Yiyuan (paper - bagged above 75) is 2.2 yuan/jin; in Shaanxi Luochuan (paper - bagged above 70 semi - commercial) is 4.3 yuan/jin; in Shandong Yantai Qixia (paper - bagged above 80 first - grade secondary fruit farmer's goods) is 4 yuan/jin, and the week - on - week changes of these prices are all 0 [2] 3.3 Upstream Situation - The annual apple output in the country is 5,128.51 million tons, with a year - on - year increase of 168.34 million tons; the apple orchard area in the country is 1,955.77 thousand hectares, with a year - on - year decrease of 19.58 thousand hectares; the weekly average wholesale price of apples is 9.37 yuan/kg, with a week - on - week decrease of 0.14 yuan/kg; the weekly average wholesale price of Fuji apples is 9.52 yuan/kg, with a week - on - week increase of 0.15 yuan/kg; the total inventory in national apple cold storage is 468.43 million tons, with a week - on - week decrease of 31.29 million tons; the storage capacity ratio of Shandong apples is 0.38, with a week - on - week decrease of 0.02; the storage capacity ratio of Shaanxi apples is 0.36, with a week - on - week decrease of 0.03; the monthly export volume of apples is 160,000 tons, with an increase of 40,000 tons [2] 3.4 Industry Situation - The year - on - year growth rate of the monthly export amount of apples is 30.7%; the monthly import amount of fresh, dried fruits and nuts is 1,775,355 million US dollars, with an increase of 657,409 million US dollars; the weekly profit of storage merchants for first - and second - grade paper - bagged 80 apples is 0.35 yuan/jin, with a week - on - week increase of 0.05 yuan/jin [2] 3.5 Downstream Situation - The weekly wholesale price of pears is 6.64 yuan/kg, with a week - on - week decrease of 0.03 yuan/kg; the weekly wholesale price of bananas is 6.57 yuan/kg, with a week - on - week increase of 0.05 yuan/kg; the weekly wholesale price of watermelons is 6.51 yuan/kg, with a week - on - week decrease of 0.24 yuan/kg; the average daily arrival volume of trucks in the morning at the Jiangmen wholesale market in Guangdong is 12.8 vehicles, with an increase of 3.2 vehicles; the average daily arrival volume of trucks in the morning at the Xiaqiao wholesale market in Guangdong is 18.4 vehicles, with an increase of 6 vehicles; the average daily arrival volume of trucks in the morning at the Chalong wholesale market in Guangdong is 24 vehicles, with an increase of 5.6 vehicles [2] 3.6 Option Market - The implied volatility of at - the - money call options for apples is 33.5%, with a week - on - week decrease of 2.29%; the implied volatility of at - the - money put options for apples is 33.5%, with a week - on - week decrease of 2.29% [2]