Story perspectives

Naphtha Crunch Forces Calbee to Switch to Monochrome Packaging

9/5/2026

Summary

Story summary

Calbee switched to monochrome packaging because of a naphtha supply crunch.
Tokyo Shoko Research surveyed 7,000 firms in June; about 80% reported difficulty obtaining oil-derived products.
Goldman Sachs analysts said global refinery outages were 60% above seasonal norms in late August.
Analysts linked the naphtha squeeze to rising geopolitical conflict and China’s fuel export controls.
Japanese media coined “naphtha bankruptcies” to describe companies’ anxiety over oil-derived inputs.

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Story summary

Calbee switched to monochrome packaging because of a naphtha supply crunch.
Tokyo Shoko Research surveyed 7,000 firms in June; about 80% reported difficulty obtaining oil-derived products.
Goldman Sachs analysts said global refinery outages were 60% above seasonal norms in late August.
Analysts linked the naphtha squeeze to rising geopolitical conflict and China’s fuel export controls.
Japanese media coined “naphtha bankruptcies” to describe companies’ anxiety over oil-derived inputs.