Report Industry Investment Rating - No information provided Core Viewpoints - The late Fuji Spring Festival stocking in apple production areas has begun, with merchants mainly packaging their own inventory. The transaction atmosphere of fruit farmers' goods is not strong. The transaction in Shandong is sporadic, while that in Gansu is relatively stable. The number of inquiring merchants has slightly increased, but the sales in the distribution area are still weak. The inventory removal speed has slightly accelerated compared with last week, but is still lower than the same period last year. There may be a short - term trend of fluctuating and strengthening [2] Summary by Relevant Catalogs Futures Market - The closing price of the main apple futures contract is 9630 yuan/ton, down 59 yuan; the main contract position is 129,001 lots, down 16,135 lots; the net long position of the top 20 futures is 6,264 lots, down 1,942 lots [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 2.4 yuan/jin; in Shaanxi Luochuan (paper - bagged above 70 semi - commodities) is 4.2 yuan/jin; in Shandong Yantai Qixia (paper - bagged above 80 first - grade second - class fruit farmers' goods) is 4 yuan/jin [2] Upstream Situation - The annual national apple output is 5,128.51 million tons; the weekly apple fruit wholesale price is 0.06 yuan/kg; the average weekly wholesale price of Fuji apples is 168.34 yuan/kg [2] Industry Situation - The total national apple cold - storage inventory is 720.90 million tons, down 12.66 million tons; the storage capacity ratio in Shandong is 51.85%, down 0.57%; in Shaanxi is 55.35%, down 0.80%. The monthly apple export volume is 120,000 tons, an increase of 40,000 tons; the monthly export amount year - on - year is - 216,418 US dollars; the monthly import amount of fresh and dried fruits and nuts is 11,179,460 US dollars [2] Downstream Situation - The weekly fruit wholesale price of pears is 6.71 yuan/kg, down 0.04 yuan; of bananas is 5.84 yuan/kg, up 0.03 yuan; of watermelons is 6.93 yuan/kg, up 0.05 yuan. The early - morning average daily arrival volume of trucks at the Guangdong Jiangmen wholesale market is 12.4 vehicles, down 4.85 vehicles; at the Guangdong Xiaqiao wholesale market is 23.6 vehicles, down 8.15 vehicles; at the Guangdong Chalong wholesale market is 17 vehicles [2] Option Market - The implied volatility of at - the - money call options for apples is 26.24%, up 1.22%; that of at - the - money put options is 26.21%, up 1.19% [2]

Core Viewpoint - The shipment of 25 tons of Shaanxi Zhouzhi kiwifruit marks a significant upgrade in the cooperation between Taicang and Zhouzhi, transitioning from "production and sales connection" to "global supply chain integration" [1] Group 1: Shipment Details - The first batch of kiwifruit includes three premium varieties: Xuxiang, Cuixiang, and Ruiyu, totaling 550 tons, which will be shipped in phases to key Southeast Asian markets such as Singapore, Malaysia, and Thailand [1] Group 2: Logistics and Efficiency - Taicang Port has tailored a dedicated logistics service plan for Zhouzhi kiwifruit, enabling the completion of customs declaration and inspection processes within 24 hours, improving efficiency by 20% compared to traditional ports [1] - The logistics cost per standard container can be reduced by 10% due to the new service plan [1] Group 3: Future Cooperation - Taicang aims to leverage this shipment as an opportunity to deepen practical cooperation with Zhouzhi in areas such as industrial collaboration, trade circulation, technological innovation, and talent exchange [1]

Core Insights - The first shipment of 25 tons of high-quality kiwifruit from Zhouzhi County set sail from Suzhou Port to Taiwan, marking a significant step in the international logistics of Zhouzhi kiwifruit [1] - Zhouzhi County, known as the "Hometown of Kiwifruit in China," has a total kiwifruit planting area of 432,000 acres, with an annual production of 600,000 tons and a comprehensive output value of 10 billion yuan [1] - The collaboration between Zhouzhi and Suzhou is evolving from simple product supply to a more integrated industrial cooperation, enhancing the cross-border circulation of agricultural products [1] Group 1 - The choice of Suzhou Port as the new hub for exporting Zhouzhi kiwifruit is due to its unique port advantages, including a "green channel" for fresh agricultural products that allows for a 20% increase in customs efficiency and a 10% reduction in logistics costs per container [2] - The exported kiwifruit includes three core varieties: Xu Xiang, Cui Xiang, and Rui Yu, with plans for a total of 550 tons to be shipped in batches to markets in Hong Kong, Singapore, Malaysia, and Thailand [2] - All kiwifruit undergoes 128 tests for pesticide residues and heavy metals, adhering to international grading standards to ensure quality control from farm to port [2] Group 2 - Suzhou Port has established a specialized team for fresh agricultural product customs clearance, providing tailored logistics services for Zhouzhi kiwifruit, including a "green channel" for expedited customs processes [3] - The port offers one-stop services covering storage, customs declaration, and route allocation, ensuring efficient customs clearance and smooth export of fresh fruits [3]

1. Report Industry Investment Rating - No information provided 2. Core View of the Report - This week, the price of the Apple Futures 2605 contract soared with a weekly increase of about 6.24%. There was a slight increase in the number of inquiring merchants in the late - Fuji production areas, and the trading atmosphere varied among different production areas. The fruit growers' supplies were mostly concentrated in Gansu and Liaoning. The inventory removal speed in the main apple - producing areas increased slightly compared to last week but was still lower than the same period last year. The sales in the distribution market were still sluggish, but the rigid demand for festival stocking increased. The market may fluctuate strongly in the short term [4][9] 3. Summary by Relevant Catalogs 3.1. Week - to - Week Summary - **Market Review**: The price of the Apple Futures 2605 contract soared this week with a weekly increase of about 6.24% [4][9] - **Market Outlook**: In the late - Fuji production areas, the number of inquiring merchants increased slightly. The fruit growers' supplies were concentrated in Gansu and Liaoning. As of January 7, 2026, the cold - storage inventory of apples in the main producing areas was 7.209 billion tons, a decrease of 126,600 tons from last week. The inventory removal speed increased slightly, but was still lower than the same period last year. In Shandong, the storage capacity ratio was 51.85%, a decrease of 0.57% from last week; in Shaanxi, it was 55.35%, a decrease of 0.80% from last week. The trading in Shandong's cold - storage was cold, and the overall volume of goods transferred was limited. Shaanxi's inventory removal speed was slightly faster than last week but still lower than the same period last year. The sales in the distribution market were still sluggish, but the rigid demand for festival stocking increased, and there may be a short - term upward trend [4] - **Future Trading Tips**: Fruit prices and consumption [5] 3.2. Futures and Spot Markets 3.2.1. Futures Market - The price of the Apple Futures 2605 contract soared this week with a weekly increase of about 6.24%. As of this week, the net position of the top 20 in apple futures was 8,206 lots, and the number of apple futures warrants was 0 [9][16] 3.2.2. Spot Market - As of January 9, 2026, the mainstream price of 80 and above first - and second - grade fruit growers' goods of paper - bag red Fuji in Qixia, Yantai, Shandong was 4.0 yuan per catty; the price of 75 and above Fuji apples in Yiyuan, Shandong was 2.40 yuan per catty [19] 3.3. Industry Situation and Options 3.3.1. Industry Chain 3.3.1.1. Supply - As of January 7, 2026, the cold - storage inventory of apples in the main producing areas was 7.209 billion tons, a decrease of 126,600 tons from last week. The inventory removal speed increased slightly but was still lower than the same period last year. The storage capacity ratio in Shandong was 51.85%, a decrease of 0.57% from last week; in Shaanxi, it was 55.35%, a decrease of 0.80% from last week [27] 3.3.1.2. Demand - As of January 8, the average daily number of early - morning arrivals at major apple wholesale markets in Guangdong increased. The profit of 80 first - and second - grade apple storage merchants was suspended (represented by 0). As of January 2, 2026, the wholesale price of all - variety apples was 9.43 yuan per kilogram, a week - on - week increase of 0.13 yuan per kilogram; the wholesale price of Fuji apples was 9.0 yuan per kilogram, a week - on - week decrease of 0.01 yuan per kilogram. The weekly average wholesale price of 5 kinds of fruits was 7.77 yuan per kilogram, a week - on - week increase of 0.103 yuan per kilogram. In November 2025, China's fresh apple exports were about 121,600 tons, with an export value of 123,853,780 US dollars and an average export price of 1,018.09 US dollars per ton. The export volume increased by 51.24% compared to October and 12.38% compared to November 2024 [31][36][43] 3.3.2. Options Market - Information about the implied volatility of at - the - money options for apples this week was presented, but no specific data was given [44] 3.4. Futures - Stock Correlation - A graph of the price - to - earnings ratio of Honghui Fruit and Vegetable was presented, but no in - depth analysis was provided [46]

Core Insights - The Wuming Pomelo has successfully expanded its international market, exporting to 30 countries and regions including Thailand, Vietnam, Canada, Russia, Germany, and the Middle East, thanks to its high quality [1] - During the opening event for the 2025/2026 sales season, domestic and international buyers signed procurement agreements totaling approximately 90 million RMB, with shipments heading to markets in Russia, Canada, and India [2] Group 1: Export and Market Expansion - Wuming Pomelo production companies have established a registration system for export fruit orchards and packaging factories to meet various countries' quarantine requirements, ensuring a traceable quality system from farm to table [2] - The Wuming Pomelo industry aims to consolidate traditional markets in Southeast Asia and the Middle East while leveraging opportunities from the Regional Comprehensive Economic Partnership (RCEP) to expand into high-end markets in Europe, America, and Japan [5] Group 2: Industry Development and Infrastructure - Wuming has developed a comprehensive industry chain for the Wuming Pomelo, including healthy seedling breeding, standardized planting, mechanized harvesting, intelligent sorting and packaging, cold chain logistics, deep processing, and integration with agriculture and tourism [5] - The total planting area for Wuming Pomelo exceeds 460,000 acres, with a total output of 1.56 million tons and an industry chain output value surpassing 10 billion RMB [5] Group 3: Innovation and Consumer Engagement - Wuming is promoting the construction of a fruit export pilot zone, having established 40 certified export orchards and 30 export packaging factories, with an annual export volume exceeding 200,000 tons [5] - The region is integrating Wuming Pomelo elements with dining culture and eco-tourism, launching creative products, specialty dishes, and educational routes for fruit picking, creating a comprehensive consumer experience [5] - Local influencers in Wuming have formed an e-commerce "village broadcasting alliance" to sell Wuming Pomelo directly to consumers, enhancing farmers' income through live streaming [7]

Report Industry Investment Rating - No relevant content provided Core Viewpoints - As of January 7, 2026, the inventory of apple cold storage in the main producing areas of China decreased by 126,600 tons compared with last week, and the de - stocking speed increased slightly month - on - month but was still lower than the same period last year. The market price of high - quality Fuji apples in the cold storage was relatively stable, and the general fruit farmer's goods were priced according to quality. The overall trading atmosphere in the producing areas was not strong, and most merchants purchased on demand. In the Shaanxi producing area, the trading volume of fruit farmers' goods increased slightly, while in the Shandong producing area, the transactions were sporadic. The downstream traders replenished their stocks cautiously, and the trading of fruit farmers' goods was light. In the sales area, fruits such as cherries and citrus were popular, but as the producing areas entered the festival stocking stage, the short - term price would run strongly [2] Summary by Directory Futures Market - The closing price of the main apple futures contract was 9,531 yuan/ton, and the main contract's open interest was 122,541 lots, a decrease of 11,108 lots. The net long positions of the top 20 futures holders were 5,464 lots, a decrease of 1,061 lots [2] Spot Market - The spot price of apples in Gansu Jingning (paper - bagged, above 75) was 5.25 yuan/jin, and that in Shandong Yiyuan (paper - bagged, above 75) was 2.4 yuan/jin, both unchanged. The spot price of apples in Shaanxi Luochuan (paper - bagged, above 70 semi - commercial) was 4.2 yuan/jin, and that in Shandong Yantai Qixia (paper - bagged, above 80 second - grade fruit farmers' goods) was 4 yuan/jin, both unchanged [2] Upstream Situation - The annual apple output in China was 51.2851 million tons, an increase of 1.6834 million tons [2] Industry Situation - The weekly wholesale price of apples was 9.43 yuan/kg, and the average wholesale price of Fuji apples was 9.1 yuan/kg, a decrease of 0.04 yuan/kg. The storage capacity ratio of Shaanxi apples was 55.35%, a decrease of 0.80%, and that of Shandong apples was 51.85%, a decrease of 0.57%. The total inventory of national apple cold storage was 7.209 million tons, a decrease of 126,600 tons. The monthly export volume of apples was 120,000 tons, an increase of 40,000 tons. The monthly import value of fresh and dried fruits and nuts was 11.17946 million US dollars, a decrease of 2.16418 million US dollars. The year - on - year export value of apples decreased by 216,418 [2] Downstream Situation - The weekly wholesale price of pears was 6.71 yuan/kg, a decrease of 0.04 yuan/kg; the weekly wholesale price of bananas was 6.93 yuan/kg, an increase of 0.05 yuan/kg; the weekly wholesale price of watermelons was 5.84 yuan/kg, an increase of 0.03 yuan/kg. The average daily arrival volume of trucks in the morning at the Guangdong Jiangmen wholesale market was 17.25 vehicles, a decrease of 1.35 vehicles; that at the Guangdong Xiaqiao wholesale market was 21.25 vehicles, and that at the Guangdong Chalong wholesale market was 31.75 vehicles, a decrease of 4.05 vehicles [2] Options Market - The implied volatility of at - the - money call options for apples was 25.08%, an increase of 0.1%, and the implied volatility of at - the - money put options for apples was 25.08%, an increase of 0.09% [2]

Core Viewpoint - The price of cherries in Shenzhen has significantly decreased, with wholesale prices dropping by 20% to 30% compared to the same period last year, leading to increased consumer purchasing interest [3][6][12]. Price Trends - As of early January, cherries are prominently displayed in markets, with prices ranging from 26.8 yuan to 35 yuan per pound [5][6]. - Specific examples include a 5-pound box of Chilean cherries priced at 159 yuan in Hema and 158.9 yuan in Sam's Club, down from previous prices of 329 yuan and over 90 yuan respectively [5][6]. Supply Chain and Logistics - The reduction in shipping time for cherries has improved supply chain efficiency, with sea transport times reduced from 28 days to approximately 23 days [8][12]. - The first batch of Chilean cherries for the 2025-2026 season arrived in Shenzhen, with expectations of over 15,000 tons entering the market [12][13]. Market Dynamics - The demand for cherries is expected to fluctuate as the Chinese New Year approaches, with potential price increases anticipated due to seasonal demand [3][13]. - The increase in cherry production from Chile is attributed to a shift in agricultural practices, with farmers converting apple orchards to cherry orchards to meet Chinese consumer preferences [12][13]. Consumer Behavior - There is a noted increase in consumer willingness to purchase cherries due to lower prices, with some consumers expressing concerns about the taste quality compared to previous years [6][8].

Report Industry Investment Rating - Not provided in the report Core Views - Apple产区交易整体略显沉闷，甘肃产区交易尚可，山东、陕西、山西整体交易冷淡，元旦前后冷库包装发货少，交易迟缓[2] - 库内富士好货行情相对稳定，果农一般货源以质论价，产区交易氛围不旺，客商按需采购[2] - 陕西部分果农有让价心理，成交以少量两级货源为主，仍以客商发自存货源为主；山东成交零星，维纳斯等替代苹果按需出库，其余货源交易不多；甘肃客商按需调果农货源，包装发货稳定，走货尚可[2] - 销区市场车厘子、柑橘等水果占据市场热度，节日提振作用受限，短期苹果价格将震荡运行为主[2] Summary by Relevant Catalogs Futures Market - 期货主力合约收盘价:苹果为9547元/吨，主力合约持仓量:苹果为157882手，环比增加23658手[2] - 期货前20名持仓:净买单量:苹果为6134手，环比增加4170手[2] Spot Market - 甘肃静宁苹果现货价格(纸袋75以上)为5.25元/斤，山东沂源苹果现货价格(纸袋75以上)为2.4元/斤，陕西洛川苹果现货价格(纸袋70以上半商品)为4.2元/斤，山东烟台栖霞现货价格(纸袋80以上一二级果农货)为4元/斤，环比均无变化[2] Upstream Situation - 全国:苹果产量为5128.51万吨，环比增加168.34万吨[2] Industry Situation - 水果批发价:苹果为9.37元/公斤，平均批发价:富士苹果为9.1元/公斤，环比下降0.04元/公斤[2] - 全国苹果冷库总库存为733.56万吨，环比下降10.48万吨；山东苹果库容比为0.52，环比下降0.01；陕西苹果库容比为0.56，环比下降0.01[2] - 苹果:出口数量:当月值为120000吨，环比增加40000吨；苹果:出口金额:当月同比下降216418万美元[2] - 鲜、干水果及坚果:进口金额:当月值为16.2万美元，一二级纸袋苹果80存储商利润为0元/斤，环比无变化[2] Downstream Situation - 水果批发价:鸭梨为6.75元/公斤，水果批发价:香蕉为6.88元/公斤，水果批发价:西瓜为5.81元/公斤，环比分别增加0.03元/公斤、0.05元/公斤、-1.35元/公斤[2] - 广东江门批发市场早间日均到车量为17.25辆，环比下降3.15辆；广东下桥批发市场早间日均到车量为21.25辆，广东槎龙批发市场早间日均到车量为31.75辆，环比下降4.05辆[2] Option Market - 平值看涨期权隐含波动率:苹果为24.07%，环比下降0.39%；平值看跌期权隐含波动率:苹果为24.09%，环比下降0.38%[2]

Core Insights - The article highlights the successful export operations of the Fengheyuan Agricultural Cooperative in Jianyang, which has become a leading exporter of citrus fruits in Sichuan, achieving significant growth in sales and export volume [3][4]. Group 1: Export Operations - The cooperative exports approximately 200,000 pounds of citrus daily, with a total export volume of over 30 million pounds and sales revenue reaching 100 million yuan in 2025, marking a year-on-year increase of over 200% [3][4]. - The cooperative has obtained Global GAP certification, making it the only citrus export enterprise in Chengdu with this certification, which facilitates access to North American and European markets [3][4]. - Export business now accounts for 70% to 80% of the cooperative's operations, with daily shipments valued at around $20,000 [4][6]. Group 2: Market Expansion and Certifications - In 2025, the cooperative achieved multiple international certifications, including ISO 22000 and EAC certification, allowing it to enter official import lists in countries like Russia and Thailand [4][6]. - The cooperative plans to expand its export portfolio to include grapes and lemons in 2026, further diversifying its offerings [3][6]. Group 3: Local Government Support - The rapid development of the cooperative is supported by local government initiatives, which address challenges related to foreign trade, labor, and irrigation [7]. - The cooperative employs around 200 to 300 workers daily during peak citrus production, contributing approximately 10 million yuan in labor wages annually [7]. Group 4: Future Development Strategies - The local government aims to enhance research and development of new varieties and promote advanced agricultural practices, including smart sorting and cold chain storage upgrades [9]. - Efforts will be made to strengthen the brand influence of "Jianzhou Late Orange" and facilitate connections with international clients to overcome quality inspection barriers [9].

转自：成都日报锦观 柠檬"身价"涨了，当地农户和集体经济也尝到了甜头。如今雷家镇2000多户农户靠种柠檬年均增收2万元；黑水寺村以60万元资金和土地入股 基地，不仅每年有3万元保底收益，还能按出口柜数分红，2025年预计能分红6万元。 小镇建起出口总部基地 成都日报锦观新闻记者 陈泳 受访单位供图 "今年行情好，订单也比往年多很多，我们得抓住这个机会！"简阳格林兰农业开发有限公司总经理李迁一大早便忙个不停，"这批是发到泰国 的，那边正在包装的是俄罗斯的订单。" 基地外的果园里，雷家镇的柠檬果实累累，喜获丰收。金黄的果实不仅远销俄罗斯、泰国等20多个国家，更卖出了往年不敢想的高价。据悉， 作为全球很多国家的"刚需"产品，柠檬在国际市场需求一直很稳定，可2025年全球主要柠檬出口国土耳其果园大面积减产，国际市场出现巨大 供应缺口，价格节节走高，目前已翻了一倍多。 "幸亏我们建成了这个出口总部基地，才能抓住这波机遇！"李迁告诉记者，雷家镇地处北纬30度附近，温度适宜、土壤肥沃，特别适合尤力克 品种柠檬的生长。为了让简阳柠檬真正"走出去"，简阳市和雷家镇引导数千亩柠檬园成功通过海关出口基地备案，帮助格林兰农业公司取得 ...