FRANKFURT, March 19 (Reuters) - Germany's VCI chemical industry lobby group predicted price increases and shortages because of a lack of essential chemicals from Asia or the Middle East linked to the Iran war and specifically shipping problems through the Strait of Hormuz.
"The situation will hit our small and medium-sized businesses especially hard, as many of them have no way to switch their supply of raw materials at short notice," VCI Managing Director Wolfgang Grosse Entrup told Reuters.