瑞达期货苹果产业日报-20260330

1. Report Industry Investment Rating - Not provided in the report 2. Core Viewpoints of the Report - The apple market transaction has slowed down, and the atmosphere for Tomb - Sweeping Festival stocking is average. As of March 25, 2026, the inventory in apple cold storage in the main producing areas across the country was 441.79 million tons, a decrease of 26.64 million tons compared to last week, and the shipment in the producing areas has relatively slowed down. The storage capacity ratio in Shandong and Shaanxi has decreased. The sales atmosphere in the sales area is not strong, and second - and third - level wholesalers generally maintain on - demand purchases. Due to the general demand, the apple price may enter a volatile market in the short term [2] 3. Summary According to the Directory 3.1 Futures Market - The closing price of the apple futures main contract is 9,863 yuan/ton, a decrease of 104 yuan; the main contract position is 51,151 lots, a decrease of 6,030 lots; the net long position of the top 20 futures positions is 5,414 lots, an increase of 832 lots [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 yuan/jin; in Shaanxi Luochuan (paper - bagged, above 70 semi - commercial products) is 4.3 yuan/jin; in Shandong Yantai Qixia (paper - bagged, above 80 second - grade fruit farmer's goods) is 4 yuan/jin [2] 3.3 Upstream Situation - The national apple output is 5,128.51 million tons, an increase of 168.34 million tons; the national apple orchard area is 1,955.77 thousand hectares, a decrease of 19.58 thousand hectares. The weekly apple wholesale price is 9.42 yuan/kg, an increase of 0.05 yuan/kg; the average wholesale price of Fuji apples is 9.39 yuan/kg, a decrease of 0.02 yuan/kg. The total inventory in the national apple cold storage is 441.79 million tons, a decrease of 26.64 million tons; the storage capacity ratio in Shandong is 0.37, a decrease of 0.01; the storage capacity ratio in Shaanxi is 0.34, a decrease of 0.03. The monthly apple export volume is 80,000 tons, a decrease of 20,000 tons [2] 3.4 Industry Situation - The monthly year - on - year export amount of apples is 24.5%, an increase of 11.4 percentage points; the monthly import amount of fresh and dried fruits and nuts is 1,222,458 million US dollars, a decrease of 1,084,304 million US dollars. The weekly profit of storage merchants for first - and second - grade paper - bagged 80 apples is 0.35 yuan/jin, unchanged [2] 3.5 Downstream Situation - The weekly wholesale price of pears is 6.7 yuan/kg, an increase of 0.06 yuan/kg; the weekly wholesale price of watermelons is 6.39 yuan/kg, a decrease of 0.12 yuan/kg; the weekly wholesale price of bananas is 6.47 yuan/kg, a decrease of 0.1 yuan/kg. The daily average number of incoming vehicles in the morning at the Guangdong Jiangmen wholesale market is 15.2 vehicles, unchanged; at the Guangdong Xiaqiao wholesale market is 16.4 vehicles, a decrease of 0.8 vehicles; at the Guangdong Chalong wholesale market is 26.6 vehicles, an increase of 0.2 vehicles [2] 3.6 Option Market - The implied volatility of at - the - money call options for apples is 40.42%, an increase of 1.61 percentage points; the implied volatility of at - the - money put options for apples is 0.55%, a decrease of 39.87 percentage points [2]