Bananas for Japanese retail are ripened in ethylene-filled chambers; ethylene is produced from naphtha, and Japan’s naphtha stocks have dropped about 25% YTD. Shipping disruptions through the Strait of Hormuz, which have cut roughly 20% of global oil supply, are exacerbating the squeeze; Japan’s crude import dependence exceeds 90%. Japan imported about 1 mln tonnes of bananas last year. Eiji Akashi, secretary-general of the Japan Banana Importers Association, said: "Prices may rise, but we are d

Bananas for Japanese retail are ripened in ethylene-filled chambers; ethylene is produced from naphtha, and Japan’s naphtha stocks have dropped about 25% YTD. Shipping disruptions through the Strait of Hormuz, which have cut roughly 20% of global oil supply, are exacerbating the squeeze; Japan’s crude import dependence exceeds 90%. Japan imported about 1 mln tonnes of bananas last year. Eiji Akashi, secretary-general of the Japan Banana Importers Association, said: "Prices may rise, but we are doing everything to avoid supply shortages."