Home / Knowledge / News / Textiles / Cheap cotton cause of farmers' suicides

Cheap cotton cause of farmers' suicides

24
Jan '07
During past 18 months more than 1,200 cotton farmers have committed suicide to escape debts to money-lenders in Vidarbha—the north-eastern corner of Maharashtra.

M.S. Swaminathan father of India's green revolution believes farmers borrowed money at high rate of interest to sink wells and buy costly biotech cotton-seeds. But a leap in diesel prices for pumps and seeds proved to be ill-suited for small plots, ruined farmers financially.

Oxfam, a charity organization, published a study last year reported that indiscriminate and forced integration of farmers into a global system that was unfair, made their condition worse.

Besides, State Government reduced the guaranteed price for cotton from about Rs2,000 ($56) per 100kg to Rs1750 last year, notwithstanding low World price of cotton that fell by more than one-third since 1994. This was due to heavy subsidies on cotton by rich countries, especially America.

The Doha round aims to address the issue of subsidies which if solved might add about 13 percent to world prices as per a recent estimate by two World Bank economists.

But a more likely scenario at the Doha round seems cotton subsidies to be cut by a third adding less than 5 percent to the price.

Cheap cotton helps to run Indian textile mills and if subsidies were to be removed then India would stand to lose around $84 million, as per observations of World Bank economists.


Must ReadView All

Pic: Shutterstock

Retail | On 30th Jul 2021

Great Britain vacancy rate rises to 14.5% in Q2 2021 from 14.1% in Q1

In the second quarter (Q2) of 2021, the overall Great Britain vacancy ...

Pic: Shutterstock

Textiles | On 30th Jul 2021

Prime Content| Here's why global cotton trade will rise in July-Dec 2021

Global cotton trade is expected to rise in the coming months of 2021...

Pic: Columbia Sportswear Company

Apparel/Garments | On 30th Jul 2021

US' Columbia Sportswear targets 30% reduction in emissions by 2030

American outerwear and footwear brand Columbia Sportswear Company has ...

Interviews View All

Textile Industry, Head honchos

Textile Industry
Head honchos

Uniform designing is a numbers game

Textile Industry, Head honchos

Textile Industry
Head honchos

Extension of RoSCTL to boost textile exports

Textile Industry, Head honchos

Textile Industry
Head honchos

Money never disappears-it just finds new opportunities

Gus Bartholomew,

Gus Bartholomew

<b>Gus Bartholomew</b>, co-founder of SupplyCompass, explains to <b>Subir...

Bharat Ahuja,

Bharat Ahuja

A mono store brand, <b>Bharat Ahuja's</b> Desire Design Studio has emerged ...

David Guiho,

David Guiho

Headquartered in Apt, South of France, Delta Plus designs, manufactures...

Dr Anup Rakshit, ITTA

Dr Anup Rakshit
ITTA

The Indian Technical Textile Association (ITTA) is the only association of ...

Hemant Bheda, Arevo

Hemant Bheda
Arevo

Arevo, based in Silicon Valley in California, develops technology to...

Sameer Sonkusale & Rachel Owyeung, Tufts University

Sameer Sonkusale & Rachel Owyeung
Tufts University

A team at the Tufts University in Massachusetts was recently in news for...

Suman Nathwani, Suman Nathwani

Suman Nathwani
Suman Nathwani

Designer <b>Suman Nathwani</b> talks about her journey of opening a...

Niti Singhal, Twee In One

Niti Singhal
Twee In One

Best known for convertible clothing, Indian brand Twee In One by designer...

Anjali Bhaskar, Samatvam

Anjali Bhaskar
Samatvam

Samatvam, a womenswear brand that blends age-old craftsmanship with modern ...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


July 2021

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.


Advanced Search