红枣市场周报-20260327

Report Industry Investment Rating - No relevant content provided. 2. Core Views of the Report - This week, the price of the main Zhengzhou jujube contract rose slightly, with a weekly increase of about 0.34%. The temperature of grey jujubes in the main producing area of Xinjiang is generally higher than the same period in recent years, and the jujube trees may sprout ahead of schedule. As of March 26, 2026, the physical inventory of 36 sample points of jujubes this week was 11,459 tons, a decrease of 81 tons from last week, a month - on - month decrease of 0.70% and a year - on - year increase of 6.07%. With the warming weather, jujubes are gradually entering the off - season of consumption. The spot market's purchase and sales atmosphere is relatively light, and downstream buyers mostly maintain a strategy of purchasing on demand, lacking the willingness for centralized restocking. The overall trading activity is not high, and the market trading sentiment is relatively cautious. It is expected that the jujube price will still be in the bottom - building state in the future [9]. 3. Summary According to the Directory 3.1. Weekly Summary - This week, the price of the main Zhengzhou jujube contract rose slightly, with a weekly increase of about 0.34%. The jujube trees in Xinjiang may sprout ahead of schedule. As of March 26, 2026, the inventory of 36 sample points decreased by 0.70% month - on - month and increased by 6.07% year - on - year. The market is in the off - season, and the trading sentiment is cautious. The future jujube price is expected to be in the bottom - building state. Future trading should 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 rose slightly this week, with a weekly increase of about 0.34% [12]. - Top 20 positions in futures: As of this week, the net position of the top 20 in jujube futures was - 19,731 lots [16]. - Futures warehouse receipts: As of this week, the number of Zhengzhou jujube warehouse receipts was 4,273 [20]. - Futures price difference: As of this week, the price difference between the Zhengzhou Commodity Exchange jujube futures 2605 contract and the 2609 contract was - 350 yuan/ton [23]. - Basis: As of this week, the basis between the spot price of Hebei grey jujubes and the main contract of jujube futures was 230 yuan/ton [26]. - Purchase price of bulk jujubes in the main producing area: As of March 27, 2026, the bulk jujube price in Aksu was 5.15 yuan/kg, in Alar was 5.65 yuan/kg, and in Kashgar was 6.5 yuan/kg [29]. - Spot price of first - grade jujubes: As of March 27, 2026, the wholesale price of first - grade grey jujubes in Cangzhou, Hebei was 3.95 yuan/jin, and in Henan was 4.15 yuan/jin [33]. - Spot price of special - grade jujubes: As of March 27, 2026, the spot price of special - grade grey jujubes in Cangzhou, Hebei was 9.10 yuan/kg, and the wholesale price in Henan was 9.50 yuan/kg [37]. 3.3. Industry Chain Situation - Supply side - Inventory: As of March 26, 2026, the physical inventory of 36 sample points of jujubes was 11,459 tons, a decrease of 81 tons from last week, a month - on - month decrease of 0.70% and a year - on - year increase of 6.07% [41]. - Supply side - Production decline possibility: The jujube production in the 2025/26 production season is expected to decline [45]. - Demand side - Export volume: In February 2026, China's jujube export volume was 2,017,112 kg, the export value was 32,204,511 yuan, the export average price was 15,965.65 yuan/ton, the export volume decreased by 56.25% month - on - month and 28.96% year - on - year. The cumulative export from January to February was 6,627,373 kg, a cumulative year - on - year decrease of 9.71% [49]. - Demand side - BOCE Xinjiang jujube trading: This week, the BOCE Xinjiang jujube "Good Brand" had a small amount of orders [54]. 3.4. Options Market and Futures - Stock Association - Options market: The implied volatility of at - the - money options for jujubes this week is presented in the relevant chart [55]. - Stock market - Haoxiangni: The price - to - earnings ratio chart of Haoxiangni is provided [57].