The conflict in the Middle East has restricted the flow of oil and natural gas through the Strait of Hormuz, reducing global supply by about a fifth. CNN notes that these disruptions have not only driven up fuel prices, but also limited the availability of petrochemicals needed to produce everyday products such as shoes, clothing and plastic bags.
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Serious consequences of lack of plastic
In South Korea, people are buying up garbage bags en masse, and the government is encouraging event organizers to reduce the use of disposable products. Taiwan has launched a hotline for producers running out of plastic, and rice farmers say they may raise prices because of a shortage of vacuum packaging.
In Japan, the oil crisis has raised concerns that patients with chronic kidney failure may not receive treatment due to a shortage of plastic tubing used in hemodialysis. Malaysian glove manufacturers say a shortage of an oil by-product is threatening global supplies of medical gloves.
— This very quickly spreads to everything: beer, pasta, chips, toys, cosmetics – said Dan Martin, head of the business analysis department at Dezan Shira & Associates, a consulting company that supports foreign companies in their expansion in Asia, in an interview with CNN.
CNN calculates that one of the largest plastic packaging wholesalers in Thailand increased prices by 10%. for clear cellophane bags used by restaurants and for food deliveries. In India, the media is reporting on the rising prices of bottled water – the price of plastic caps has quadrupled since the beginning of the war. A representative of South Korean instant noodle maker Nongshim said the packaging supplier only had about a month's worth of supplies.
