“If the War Drags On, We May Never Eat Them Again” Panic Buying and Price Gouging Sweep Japan

Japan Halts Potato Chip Production Amid Hormuz Blockade
Panic Buying and Premium Resale Spread as Consumer Anxiety Grows

Citizens are shopping at a large supermarket in downtown Seoul. This photo is for illustrative purposes only and is not directly related to the article. Photo by The Asia Business Daily DB

Due to the aftermath of the Middle East war, the de facto blockade of the Strait of Hormuz has unexpectedly sounded the alarm for "potato chip hoarding" across Japan. As production was halted due to disruptions in energy supply, anxiety has spread, leading to hoarding and even resale transactions at premium prices, heightening tension throughout the market.

Production Halted Due to Bunker Oil Supply Disruption

According to the Asahi Shimbun and other sources on March 18 (local time), Japanese confectionery company Yamayoshi Confectionery has completely suspended production of its major products, including the potato chips "Wasabip." This action was taken because it has become difficult to secure the bunker oil needed to operate the factory due to the blockade of the Strait of Hormuz.

The company had been producing products at its factory in Asago, Hyogo Prefecture, but it is reported that it partially halted operations at the plant as of March 12 because it could not obtain the bunker oil used as boiler fuel. Since edible oil must be heated to high temperatures during the potato chip manufacturing process, bunker oil is essentially an indispensable energy source.

Popular Japanese Snack 'Wasabip' Potato Chips. Yamayoshi Confectionery Website

As a result, shipments of a total of six products—including "Shiobip" and "Mentai Mayobip"—were also suspended simultaneously. Online shopping malls have also stopped accepting new orders and are now sequentially delivering only the existing orders. It is already known that, aside from inventory already distributed in the market, it is difficult to secure additional stock.

The company told local media, "The blockade of the strait was an unforeseen variable," and added, "We are working to diversify our fuel supply sources and normalize production." However, the timing for a return to normal operations remains uncertain.

Hoarding and Resale Spread... War Fears Stimulate Demand

After news of the production halt, consumers reacted immediately. On Japanese secondhand trading platforms, these potato chips are now being resold at prices higher than the original retail price, and the trend of reselling is spreading.

A discontinued product, “Wasabip,” is listed for 3,888 yen per 10 packs on a Japanese second-hand trading platform. Screenshot from ITmedia NEWS

On local social networking services (SNS), people are responding with comments such as, "We need to buy some now," "I bought in bulk thinking it was my last chance," "If the war drags on, we might not be able to eat them anymore," "Let’s buy them and ration," and "If you find a place selling them, please share."

1970s "Oil Shock" Trauma... Hoarding of Toilet Paper, Too

Recently in Japan, there have even been signs of toilet paper hoarding. Posts on social networking services (SNS) such as "We need to stock up on toilet paper before a second oil shock hits" and "I'm considering buying in bulk" are spreading.

According to the Asahi Shimbun on March 13, related Japanese industry officials have responded to these claims by stating that they are "completely baseless rumors." According to the industry, roughly 60% of the raw materials for toilet paper in Japan are recycled paper collected domestically, while the remainder is pulp imported from North America, South America, or Southeast Asia. Although some petroleum-based chemical additives are used in the manufacturing process, the current Middle East crisis triggered by Iran is said to have only a minimal impact on the supply chain.

Street in Tokyo, Japan. Photo by EPA Yonhap News

Nevertheless, it appears that these hoarding behaviors are rooted in past experiences. Memories of toilet paper shortages during the first oil shock in 1973 continue to influence consumer psychology across generations.

In fact, the toilet paper shortages that occurred during the Great East Japan Earthquake in 2011 and during the COVID-19 outbreak in 2020 were also the result of excessive hoarding and temporary logistical disruptions, rather than an actual shortage of supply. These were "psychological panics" brought on by overreaction.

This content was produced with the assistance of AI translation services.