Apple Market Overview Futures data shows that the closing price of Apple 2605 contracts was 9,465 yuan/ton, down 41 yuan/ton (-0.43%) from the previous day. In the spot market, the price of 80# first and second-grade late Fuji apples in Shandong Qixia remained unchanged at 4.10 yuan/jin, with a spot basis of AP05-1265, up 41 from the previous day. In Shaanxi Luochuan, the price of 70# and above semi-premium late Fuji apples held steady at 4.20 yuan/jin, with a spot basis of AP05-1065, also up 41.
Recent market updates indicate stable pricing for late Fuji and stored apples, though lower-quality stock in some western regions showed slight weakness. Trading remains demand-driven, with slow turnover. Buyers in western regions are selectively sourcing, mainly focusing on mid-to-low-grade farmer stock, leading to limited transactions. In Gansu, some buyers are shipping out premium Huaniu and high-quality stock, with decent sales. Meanwhile, Shandong’s inventory movement is sluggish, with small-sized apples for export slowing down, while limited quantities of Venus and cream apples are being shipped as needed.
Farmer quotes in Qixia for 80# first and second-grade red apples range between 3.7–4.5 yuan/jin, while 65# and 70# apples are priced at 1.8–2.2 yuan/jin. In Gansu’s Jingning, premium farmer stock is quoted at 4.5–5.5 yuan/jin, while Qingyang prices range from 3.8–4.5 yuan/jin. Shaanxi Luochuan’s semi-premium farmer stock is priced at 3.8–4.3 yuan/jin. Market activity remains subdued, with weak downstream demand. Buyers are cautious, and mainstream prices are stable. With Guangxi’s Shatang oranges entering the market, attention is on their potential impact on apple consumption.
Market Analysis Apple futures declined slightly yesterday amid sluggish trading sentiment. Inventory movement remains slow, and while arrivals in sales regions have increased, turnover remains weak, sustaining inventory pressure. Late Fuji storage has concluded, with volumes down over 10% year-on-year, though traders remain optimistic. Last week’s inventory decline was modest, and shipments were average. Seasonal demand weakness persists, with citrus fruit supply further pressuring apple sales.
Strategy Neutral. Current inventory levels and structure are already priced in. Focus shifts to post-holiday consumption recovery, inventory segmentation, and pre-holiday restocking. The market remains in a seasonal lull, warranting caution against chasing highs.
Risk Factors Weather conditions, quality issues, and sales region inventory movement.
Red Jujube Market Overview Futures data shows Red Jujube 2601 contracts closed at 9,235 yuan/ton, up 55 yuan/ton (+0.60%) from the previous day. In the spot market, Hebei’s first-grade gray jujubes held steady at 8.60 yuan/kg, with a spot basis of CJ01-635, down 55.
Recent updates indicate Xinjiang’s gray jujube procurement is nearing completion, with limited remaining stock. Premium goods show slight price strength. Aksu’s general stock is priced at 5.00–5.30 yuan/kg, while Alar’s ranges from 5.20–6.00 yuan/kg. Kashgar’s group transactions are at 6.20–6.80 yuan/kg, and Maigaiti’s prices are 6.00–6.30 yuan/kg. With dwindling supply, some sellers are holding firm on prices. Ruoqiang, Hotan, and Qiemo have concluded procurement, adhering to quality-based pricing.
On December 8, Hebei’s Cui’erzhuang market traded mainly new stock, with processing gradually resuming post-harvest. As procurement costs stabilize, downstream buying interest has improved, supporting firmer prices. Guangdong’s Ruyifang market received seven truckloads, with ample supply but only moderate early-session demand.
Market Analysis Red jujube futures edged higher yesterday as procurement winds down. With limited remaining stock, pricing follows quality-based principles, keeping spot prices firm. Xinjiang’s procurement is 90% complete, with prices stabilizing as costs become clearer. Sales regions are trading new stock, and some sellers are testing minor price hikes.
However, inventory pressure remains high, with combined old and new season stock at multi-year highs. Despite seasonal demand picking up, the market remains pessimistic due to unresolved supply-demand imbalances.
Strategy Neutral. If sales improve, prices may rebound seasonally, but high inventory levels are expected to cap upside potential.
Risk Factors Weather disruptions, market arrivals, and inventory digestion.
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