Naphtha Shortage → Food Packaging Collapse (Asia)

80% of Asia's seaborne naphtha comes through Hormuz. South Korea has 1-2 weeks of inventory. Half of Japan's ethylene plants have reduced production. Yeochun NCC (50% of South Korea's ethylene) expected to fully halt by March 24. Beyond blockade: strikes on Ras Laffan and South Pars destroyed gas condensate production (a key naphtha feedstock), meaning supply won't recover even post-ceasefire. 5+ Asian crackers declared force majeure. Without plastic packaging, food production halts even if ingredients exist.