20231112-广发期货-苹果_红枣期货周报_17页_2mb

Apple and Jujube Futures Weekly Report Summary - November 12, 2023

Apple Section

• Current Situation: The late Fuji apple off-storage trading has largely concluded, with poor-quality fruits leading to declining prices. Buyers focus on low-grade supplies like high-pick or grade-three apples. Production storage efforts are winding down in Shanxi, while Shandong and Shaanxi have limited farm deliveries starting. Market trading atmosphere is generally poor, though export demand remains moderate.
  • Key prices: Shandong Xita 80# common apples at 20-30 yuan/kg, grade-three apples at 13-15 yuan/kg. Bijiu market has 80# common apples priced at 18-25 yuan/kg, but high-quality stocks are scarce. Sub-grade apples range from 1-13 yuan/kg.
• Outlook: Prices are expected to weaken over the next 7-10 days as ground trading ends. Monitor factors including citrus fruit imports (e.g., oranges) as potential substitutes for apples, weather conditions, farmer sentiment shifts, and overall consumption demand. In Shaanxi, late Fuji prices are disordered, while Shanxi shows stable prices but low buyer enthusiasm.

Jujube Section

• Current Situation: Xinjiang's gray jujube harvest is in full swing, with yields and quality clearer than expected. Acqure prices reflect a previous yield shortfall, with mainstream deals around 800-950 yuan/kg, higher than the 2021 season. Demand from enterprises and buyers is strong, despite some contract cancellations due to price volatility.
  • Key prices: Aksu region at 740-820 yuan/kg, with higher offers up to 850 yuan/kg. Actual pricing varies by location (e.g., Altai at 850-900 yuan/kg), and local varieties like soil jujube command premium prices.
  • Market response: Sales prices in consumption areas rose due to cost support, with new arrivals at 1150-1350 yuan/kg for grades, indicating potential upward trends.
• Outlook: Jujube supply-demand dynamics support price increases; watch actual trade volumes and inventory levels for updates on potential market saturation or quality variations. Expect stable to rising prices amid strong producer interest, but monitor risks like supply mismatches or consumer shifts.