Business
Hormuz closure raises urea import cost | The Express Tribune
Domestic supply spares farmers as local prices stay at Rs4,400 per bag despite disruptions
ISLAMABAD:
Escalating tensions in the Middle East have disrupted global fertiliser supply chains and pushed international urea prices to $740-750 per tonne, exposing vulnerabilities in global agricultural markets and raising concerns for import-dependent countries.
According to a statement issued on Saturday, the crisis was triggered by disruptions to Qatari gas exports and the closure of the Strait of Hormuz, developments that have throttled fertiliser output across the Gulf region, which supplies nearly one-third of the world’s urea.
The impact on international markets has been swift, with prices climbing to levels rarely seen in recent years.
For Pakistan, where urea is essential for wheat and rice cultivation, the timing of the disruption carries significant implications for agricultural production and input costs.
With shipping lanes linked to the Strait of Hormuz disrupted, supplies destined for import-dependent countries across South Asia remain stranded offshore, tightening availability in regional markets.
The scale of the price difference becomes evident when comparing international and domestic costs.
Under current international conditions, the landed cost of imported urea is estimated at Rs13,700 to Rs14,700 per bag. The domestic price stands at roughly Rs4,400 per bag.
Analysts say that gap, more than three times the local price, illustrates the potential pressure Pakistani farmers could have faced if the country had relied more heavily on imports.
Higher fertiliser costs typically force farmers to reduce application rates, which can depress crop yields and contribute to rising food prices.
Pakistan’s domestic fertiliser manufacturers, drawing on locally available gas resources and existing production capacity, have continued supplying the market through the disruption.
Industry representatives say this supply continuity has shielded Pakistani farmers from volatility in global fertiliser markets.
Business
Gudhi Padwa, Eid-Ul-Fitr And Weekend Holidays Next Week: Banks Closed On These Days Between March 16-22
Last Updated:
Banks across India will observe several public and regional holidays next week in March 2026 under the RBI holiday calendar.
Bank Holiday This Week: Full RBI Holiday List
Bank Holiday In February 2026: Banks across India will observe several public and regional holidays next week in March 2026 under the RBI holiday calendar. These holidays are not uniform nationwide and vary from state to state. That means on some dates, banks in certain states will remain closed, while in others, they will function normally.
During bank holidays, customers can continue to access services through net banking, mobile banking, UPI, and ATMs. However, cheque clearing and other over-the-counter services under the Negotiable Instruments Act will not be available.
March 17: Shab-I-Qadr
Banks will be closed in Imphal, Jammu, and Srinagar.
March 19: Gudhi Padwa / Ugadi Festival / Telugu New Year’s Day / Sajibu Nongmapanba (Cheiraoba) / 1st Navratra
Banks will be closed in Belapur, Bengaluru, Chennai, Hyderabad, Imphal, Jammu, Mumbai, Nagpur, Panaji, Srinagar, and Vijayawada.
March 20: Eid-Ul-Fitr (Ramzan) / Jumat-ul-Vida
Banks will be closed in Agartala, Ahmedabad, Aizawl, Belapur, Bengaluru, Bhopal, Bhubaneswar, Chandigarh, Dehradun, Gangtok, Guwahati, Hyderabad, Imphal, Itanagar, Jaipur, Kanpur, Kochi, Kohima, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Panaji, Patna, Raipur, Ranchi, Shillong, Shimla, Srinagar, Thiruvananthapuram, and Vijayawada.
March 21: Ramzan-Id (Id-Ul-Fitr) (Shawal-1) / Khutub-E-Ramzan / Sarhul
Banks will be closed in Ahmedabad, Aizawl, Belapur, Bhopal, Chandigarh, Dehradun, Jaipur, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, Patna, and Ranchi.
March 22: Sunday
Bank branches across India will be closed for the weekend.
Upcoming Bank Holidays In March 2026
March 26: Shree Ram Navami
Banks will be closed in Ahmedabad, Bhopal, Bhubaneswar, Belapur, Hyderabad, Jaipur, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, Patna, Ranchi, and Shimla.
March 27: Shree Ram Navami (Chaite Dasain)
Banks will be closed in Ahmedabad, Bhopal, Dehradun, Jaipur, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, Patna, Ranchi, and Gangtok.
March 31: Mahavir Janmakalyanak / Mahavir Jayanti
Banks will be closed in Ahmedabad, Belapur, Bengaluru, Chennai, Hyderabad, Jaipur, Kanpur, Kolkata, Lucknow, Mumbai, Nagpur, New Delhi, Patna, Raipur, Ranchi, and Vijayawada.
| Holiday Description | Day |
|---|---|
| Holika Dahan | 2 |
| Holi (Second Day)/Dol Jatra/Dhulandi/Holika Dahan | 3 |
| Holi/Holi 2nd Day – Dhuleti/Yaosang 2nd Day | 4 |
| Chapchar Kut | 13 |
| Shab-I-Qadr | 17 |
| Gudhi Padwa/Ugadi Festival/Telugu New Year’s Day/Sajibu Nongmapanba (Cheiraoba)/1st Navratra | 19 |
| Eid-Ul-Fitr (Ramzan)/Jumat-ul-Vida | 20 |
| Ramzan-Id (Id-Ul-Fitr) (Shawal-1)/Khutub-E-Ramzan/Sarhul | 21 |
| Shree Ram Navami | 26 |
| Shree Ram Navami (Chaite Dasain) | 27 |
| Mahavir Janmakalyanak/Mahavir Jayanti | 31 |
March 15, 2026, 09:13 IST
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