Japan will begin a new system on June 23 to sell paint and thinner directly from manufacturers to construction firms and other businesses, aiming to ease supply bottlenecks and curb price increases as worsening conditions in the Middle East make such materials harder to obtain.
Japan's reliance on Middle Eastern crude oil has left manufacturers exposed to rising costs for plastic containers, ink and other products that use naphtha, but JEPLAN President Masaki Takao is pushing a recycling technology that could reduce the need for petroleum-derived raw materials by turning used plastic back into material close to new.
A rice ball chain based in Yokkaichi, Mie Prefecture, is feeling the effects of turmoil in the Middle East through higher costs and supply shortages for packaging film and other materials essential to selling onigiri.
The global oil market could face a major supply surplus in 2027 if the United States and Iran maintain an agreement aimed at ending hostilities, the International Energy Agency said in its monthly report released on June 17.
Calbee's potato chips in black-and-white packaging appeared on convenience store shelves in Tokyo on June 17, reflecting the company's response to concerns over the stability of printing ink supplies derived from naphtha as tensions in the Middle East disrupted procurement.
Japan's trade balance fell into the red for the first time in four months in May, as soaring crude oil procurement costs linked to tensions in the Middle East pushed import prices to record levels despite a sharp decline in import volumes.