What was the primary reason behind Huy Fong Foods' Sriracha production shortage that led to the 2022-2023 'Sriracha Crisis'?

In 2022-2023, a major food product crisis hit hot sauce enthusiasts worldwide when Huy Fong Foods, the maker of the iconic Sriracha hot sauce with the rooster logo, announced a major production shortage. This event caused restaurants to hoard supplies, prices to skyrocket on secondary markets, and even led to the emergence of black market Sriracha trading. Test your knowledge about this significant food industry disruption that affected culinary businesses worldwide.

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Severe drought conditions affecting chili pepper harvests in Mexico and the southwestern United States
A legal dispute with their primary distributor that halted international shipments
FDA recall due to contamination issues in multiple production batches
Strategic production pause to rebrand and reformulate the sauce with less sodium