Apple Market Overview Key Market News and Data In the futures market, the Apple 2610 contract closed yesterday at 7,615 yuan per ton, an increase of 62 yuan or 0.82% from the previous day. In the spot market, the price for 80# Grade 1-2 late Fuji apples in Qixia, Shandong was 3.60 yuan per jin, unchanged from the prior day. The spot basis AP10 was -415, a decrease of 62 points. In Luochuan, Shaanxi, the price for 70# and above semi-premium late Fuji apples was 4.20 yuan per jin, down 0.15 yuan. The spot basis AP10 was +785, a decrease of 362 points.
Recent market information indicates weak sales of inventory apples from producing regions, with no significant pre-holiday restocking boost observed before the May Day holiday. Prices for standard-grade farmer-held apples remain under pressure. In northwest regions, merchants primarily ship their own stored supplies. While prices for average-quality standard-grade apples have softened slightly, transaction volumes remain low. In Shandong producing areas, farmers and cold storage facilities show urgency to sell, leading to continued price declines. A small number of merchants are sourcing cost-effective striped-red varieties, but overall transactions are limited. Export restrictions persist, contributing to generally subdued trading activity. The new season's apples are gradually entering the fruit-setting stage, with overall conditions appearing favorable. Prices for 80# Grade 1-2 striped-red apples in Qixia range from 3.0 to 4.2 yuan per jin, while standard 80# apples trade between 2.2 and 2.8 yuan per jin. In Shaanxi's Luochuan production area, farmer-held standard apples are being sold from storage at 3.3-4.0 yuan per jin, with semi-premium grades at 4.0-4.5 yuan per jin. In Gansu's Jingning area, semi-premium apples are priced between 5.0 and 7.5 yuan per jin.
Market Analysis Apple futures continued their weak consolidation pattern yesterday. Pre-holiday restocking in production areas failed to materialize, with farmers' urgency to sell spreading. Prices for lower-quality goods continue to soften, while premium varieties show relative resilience. Sales in consumption areas remain slow, with seasonal fruits entering the market and diverting consumer demand. Intermediate storage facilities show noticeable inventory buildup. National cold storage inventory reduction is proceeding slower than the same period last year, with pressure particularly evident in standard inventory levels. Tight supplies of high-quality apples provide some support at the lower end. The new season's apple crop shows abundant flowering and normal fruit setting, with production increase expectations continuing to suppress valuations for distant month contracts. The market may maintain its weak trend in the short term.
Trading Strategy Neutral.
Risk Factors Insufficient seasonal demand boost, increased competition from seasonal fruits, inventory reduction pressure.
Jujube Market Overview Key Market News and Data In the futures market, the Jujube 2609 contract closed yesterday at 9,080 yuan per ton, a decrease of 5 yuan or 0.06% from the previous day. In the spot market, the price for Grade 1 gray jujubes in Hebei was 7.90 yuan per kilogram, unchanged from the prior day. The spot basis CJ09 was -1180, an increase of 5 points.
Recent market information indicates relatively normal temperatures in Xinjiang production areas, with farmers actively engaged in field management. Jujube trees in major production regions have entered the budding stage, with later weather conditions and tree growth requiring monitoring. On April 28, six trucks arrived at the parking area of Hebei's Cui'erzhuang market, primarily carrying off-grade products with limited finished goods. Reference prices for Grade 1 arrivals were 7.50 yuan per kilogram, with merchants selecting suitable supplies according to their needs. At Guangdong's Ruyifang market, four truckloads arrived, with reference prices for super-grade jujubes at 11.50-13.00 yuan per kilogram, premium grade at 9.70-10.50 yuan per kilogram, and Grade 1 at 8.20-9.20 yuan per kilogram. Merchants are choosing appropriate supplies based on demand.
Market Analysis Jujube futures experienced narrow-range fluctuations yesterday. The pattern of strong supply and weak demand continues, with ample supplies in production areas. Higher accumulated temperatures have advanced jujube tree budding, and pest issues have emerged in some orchards, requiring attention to subsequent control measures. Trading in consumption areas remains subdued, with downstream buyers purchasing according to immediate needs. Rising temperatures are further diverting consumption away from jujubes. Sample inventories show significant year-on-year increases, with destocking progressing slowly. Pressure from warehouse receipts is becoming apparent, keeping spot market conditions under strain. The combination of seasonal consumption weakness and loose supply-demand dynamics may maintain the market's low-level consolidation pattern in the short term. Market participants should monitor inventory reduction trends and weather/pest developments in production areas.
Trading Strategy Neutral.
Risk Factors Persistently weak end-consumer demand, market share loss to seasonal fruits, slow inventory reduction, new season pest and weather disruptions.
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