苹果市场周报-20260327

1. Report Industry Investment Rating - No relevant content provided 2. Core Viewpoints of the Report - This week, the price of the Apple Futures 2605 contract dropped significantly, with a weekly decline of approximately 7.03%. The trading in the apple market has slowed down, and the atmosphere for Tomb - Sweeping Festival stocking is average. The short - term apple price may enter a volatile period due to general demand [4][8]. 3. Summary by Relevant Catalogs 3.1 Week - to - Week Summary - The price of the Apple Futures 2605 contract dropped significantly this week, with a weekly decline of about 7.03%. As of March 25, 2026, the inventory in apple cold storage in the main production areas was 4417900 tons, a decrease of 266400 tons from last week. The inventory ratio in Shandong was 37.01%, a decrease of 1.38% from last week, and in Shaanxi it was 33.68%, a decrease of 2.57% from last week. The sales in the consumer market are not strong, and second - and third - level wholesalers mainly purchase goods as needed. Future trading should pay attention to fruit prices and consumption [4]. 3.2 Futures and Spot Markets 3.2.1 Futures Market - This week, the price of the Apple Futures 2605 contract dropped significantly, with a weekly decline of about 7.03%. As of this week, the net position of the top 20 in apple futures was 4582 lots, and the number of apple futures warehouse receipts was 0 [8][14]. 3.2.2 Spot Market - As of March 27, 2026, the mainstream price of 80 first - and second - grade fruit farmer goods of bagged red Fuji in Qixia, Yantai, Shandong was 4.0 yuan per catty; the price of bagged Fuji apples above 75 in Yiyuan, Shandong was 2.0 yuan per catty [17]. 3.3 Industry Situation and Options 3.3.1 Industry Chain - Supply Side: As of March 25, 2026, the inventory in apple cold storage in the main production areas was 4417900 tons, a decrease of 266400 tons from last week. The inventory ratio in Shandong was 37.01%, a decrease of 1.38% from last week, and in Shaanxi it was 33.68%, a decrease of 2.57% from last week [22]. - Demand Side - As of March 26, the average daily early - morning vehicle arrival volume at major apple wholesale markets in Guangdong increased. The profit of 80 first - and second - grade apple storage merchants was 0.35 yuan per catty [24]. - As of March 20, 2026, the wholesale price of all - variety apples was 9.42 yuan per kilogram, a week - on - week increase of 0.05 yuan per kilogram; the wholesale price of Fuji apples was 9.41 yuan per kilogram, a week - on - week decrease of 0.09 yuan per kilogram [29]. - As of March 20, 2026, the weekly average wholesale price of 5 kinds of fruits (including Fuji apples, bananas, grapes, pears, and watermelons) was 7.89 yuan per kilogram, a week - on - week decrease of 0.10 yuan per kilogram [33]. - According to customs data, in February 2026, China's total fresh apple exports were about 80000 tons, a decrease of 20000 tons from the previous month and a year - on - year increase of 15.9% [37]. 3.3.2 Options Market - The implied volatility of at - the - money options of apples this week is presented in the relevant chart, but no specific data is provided [38]. 3.4 Futures - Stock Correlation - The chart shows the price - to - earnings ratio of Honghui Fruit & Vegetable Co., Ltd., but no specific analysis is provided [40].