Report Summary 1) Report Industry Investment Rating No investment rating information is provided in the report. 2) Core Viewpoint The acquisition of Xinjiang grey jujubes has ended, and the market focus has shifted to the consumer side. As of January 8, 2026, the physical inventory of 36 sample points of jujubes this week was 15,300 tons, a decrease of 349 tons from last week, a 2.23% month - on - month decrease and a 41.27% year - on - year increase. The sample point inventory decreased month - on - month. The acquisition in the production area is basically over, and the overall circulation of market goods is stable. Traders commonly hoard raw materials in Xinjiang. As the twelfth lunar month approaches, the festival stocking demand is expected to drive the market into a phased peak of sales. The actual sales speed at the terminal and the inventory performance of channels need to be closely monitored in the future [2]. 3) Summary by Relevant Catalogs Futures Market - The closing price of the main futures contract for jujubes was 9,060 yuan/ton, a decrease of 100 yuan/ton; the position of the main contract was 121,852 lots, a decrease of 1980 lots. - The net long position of the top 20 futures holders was 1,161 lots; the number of warehouse receipts was 2,981 lots; the total effective warehouse receipt forecast was 400 lots, a decrease of 72 lots [2]. Spot Market - The unified price of Kashgar jujubes was 6.5 yuan/kg; the wholesale price of first - class grey jujubes in Hebei was 4.1 yuan/jin. - The unified price of Alar jujubes was 5.65 yuan/kg; the wholesale price of first - class grey jujubes in Henan was 4.15 yuan/jin. - The unified price of Aksu jujubes was 5.15 yuan/kg; the price of special - grade jujubes in Henan was 9.5 yuan/kg. - The price of special - grade jujubes in Hebei was 9.49 yuan/kg, a decrease of 0.03 yuan/kg; the price of special - grade jujubes in Guangdong was 10 yuan/kg; the price of first - class jujubes in Guangdong was 8.8 yuan/kg [2]. Upstream Market - The annual jujube output was 3.187 million tons, and the planting area was 6.069 million hectares, a decrease of 4.1% [2]. Industry Situation - The national jujube inventory this week was 15,300 tons, a decrease of 349 tons. - The monthly jujube export volume was 3,537,566 kg, an increase of 1,332,346 kg; the cumulative monthly export volume was 29,291,188 kg [2]. Downstream Situation - The cumulative quarterly sales volume of HaoXiangNi jujubes was 36,480.43 tons, a decrease of 2,981.06 tons; the cumulative quarterly year - on - year production increase was 1.47%, a decrease of 34.59%. - The average daily arrival of jujubes at Ruyifang Market was 0.8 vehicles per week; the monthly average wholesale price of jujubes was 10.33 yuan/kg, an increase of 0.46 yuan/kg. - Four vehicles of jujubes arrived at Hebei Cuierzhuang Market, including sub - standard and finished products. Local processing plants mainly processed and sold their own goods, and holders were actively selling. Downstream merchants purchased as needed, and some holders reported better sales. Four vehicles of jujubes arrived at the Guangdong market, the market price was temporarily stable, and downstream buyers were more active [2].

Report Summary 1. Report Industry Investment Rating - Not provided in the content 2. Core View - The acquisition of grey jujubes in the Xinjiang main production area is nearing completion, with an overall progress of about 90%. As of December 4, 2025, the physical inventory of 36 sample points was 13,910 tons, a week - on - week increase of 3062 tons (28.23%) and a year - on - year increase of 135.16%. The acquisition progress in the Xinjiang Third Agricultural Division and Markit area accelerated this week, with high procurement enthusiasm from enterprises and merchants, and a significant increase in order signing. The product prices in the sales area are stabilizing. As downstream procurement increases, some holders are tentatively raising prices slightly. The short - term price center is starting to rise. Pay attention to the improvement of demand. If the actual demand improves, the probability of price rebound increases [2] 3. Summary by Relevant Catalogs Futures Market - The closing price of the main futures contract of jujubes was 9170 yuan/ton, a decrease of 120 yuan; the main contract position was 110,902 lots, an increase of 5245 lots. The net long position of the top 20 futures holders was - 14,644 lots, an increase of 1416 lots. The number of warehouse receipts was 851, an increase of 1; the total effective warehouse receipt forecast was 636, a decrease of 6 [2] Spot Market - The unified price of Kashgar jujubes was 6.5 yuan/kg, unchanged; the wholesale price of first - grade grey jujubes in Hebei was 4.4 yuan/jin, unchanged; the unified price of Alar jujubes was 5.65 yuan/kg, unchanged; the wholesale price of first - grade grey jujubes in Henan was 4.45 yuan/jin, unchanged; the unified price of Aksu jujubes was 5.15 yuan/kg, unchanged; the price of special - grade jujubes in Henan was 9.9 yuan/kg, unchanged; the price of special - grade jujubes in Hebei was 9.79 yuan/kg, a decrease of 0.05 yuan; the price of special - grade jujubes in Guangdong was 10.6 yuan/kg, a decrease of 0.2 yuan; the price of first - grade jujubes in Guangdong was 9.5 yuan/kg, a decrease of 0.1 yuan [2] Upstream Market - The annual jujube output was 6069,000 tons, an increase of 3187,000 tons; the planting area was 1.993 million hectares, a decrease of 41,000 hectares [2] Industry Situation - The national jujube inventory was 13,910 tons, an increase of 3062 tons; the monthly jujube export volume was 2,205,220 kg, a decrease of 78,451 kg; the cumulative monthly jujube export volume was 25,753,622 kg, an increase of 2,205,220 kg [2] Downstream Situation - The cumulative quarterly jujube sales volume of Hao Xiang Ni was 36,480.43 tons, a decrease of 2981.06 tons; the cumulative year - on - year increase in jujube production of Hao Xiang Ni was 1.47%, a decrease of 34.59 percentage points [2] Industry News - The acquisition of grey jujubes in the Xinjiang production area is almost finished, with little remaining supply in each area and a tail - end price increase for high - quality products. The mainstream price of general goods in Aksu is 5.00 - 5.30 yuan/kg, in Alar is 5.50 - 5.80 yuan/kg, in Kashgar is 6.20 - 6.80 yuan/kg, and in Markit is 6.00 - 6.30 yuan/kg. Some sellers are reluctant to lower prices due to limited supply [2]

Report Summary 1. Relevant Data - **Futures Market**: The closing price of the main futures contract for red dates was 10,445 yuan/ton, up 55 yuan; the main contract's open interest was 185,560 lots, up 440 lots; the net long position of the top 20 futures holders was -9,476 lots, down 4,648 lots; the number of warehouse receipts was 0; the effective warehouse receipt forecast was 0 [2]. - **Spot Market**: The unified - price of red dates in Kashgar was 7.5 yuan/kg (unchanged), in Alar was 7.15 yuan/kg (unchanged), and in Aksu was 6.75 yuan/kg (unchanged). The wholesale price of first - class grey dates in Hebei was 4.8 yuan/jin (unchanged), and in Henan was 4.75 yuan/jin (unchanged). The price of top - grade red dates in Henan was 10.5 yuan/kg (unchanged), in Hebei was 10.55 yuan/kg (down 0.09 yuan), and in Guangdong was 11.6 yuan/kg (unchanged). The price of first - class red dates in Guangdong was 10.6 yuan/kg (unchanged) [2]. - **Upstream Market**: The annual output of red dates was 606.9 million tons, up 318.7 million tons; the planting area was 1.993 million hectares, down 41,000 hectares [2]. - **Industry Situation**: The national red date inventory was 9,103 tons (weekly), up 94 tons; the monthly export volume was 2,283,671 kg, down 81,222 kg; the cumulative monthly export volume was 23,548,402 kg, up 2,283,671 kg [2]. - **Downstream Situation**: The cumulative quarterly sales volume of red dates of Hao Xiang Ni was - 2,981.06 tons, and the cumulative quarterly output increased by 36,480.43 tons year - on - year, with a growth rate of 1.47%, and the sales volume decreased by 34.59% year - on - year [2]. 2. Core View - New - season red dates have not been concentrated for harvest, but inland jujube merchants have gone to production areas to purchase. Some merchants are actively ordering new - season raw materials, while others are buying old stock. The acquisition progress in Hotan and Qiemo areas is relatively fast. The market's acceptance of new goods is worthy of attention. In the future, supply - side pressure will gradually emerge, and the probability of a continued decline in jujube prices increases. It is necessary to pay attention to the mainstream purchase price and quality of new jujubes [2]. 3. Industry News - The mainstream price of general - grade red dates in Aksu is 6.50 - 7.00 yuan/kg, in Alar is 6.80 - 7.50 yuan/kg, in some parts of Kashgar the floor price is 7.50 yuan/kg, in Hotan is 8.00 - 8.50 yuan/kg, in Qiemo is 7.50 - 8.00 yuan/kg, and in Ruoqiang is 8.00 - 8.50 yuan/kg, with high - quality products commanding higher prices. Affected by the solar terms, the harvest time of grey dates is earlier than last year, and the market focus is on the supply of goods available for making warehouse receipts [2].