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Strait of Hormuz Crisis: Packaging Woes & Soaring Food Prices
Description
The Strait of Hormuz closure due to US-Iran conflict has caused a global supply chain crisis, affecting food brands worldwide. In India, Diet Coke and beer supplies are dwindling due to aluminum shortages, while Japanese snack maker Calbee switches to black-and-white packaging due to naphtha scarcity. Consumers are paying premiums for scarce items, and executives warn of prolonged packaging woes. Bananas and sugar are also under pressure, with corn prices set to surge this fall, driving up grocery costs.
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