The crash in price has forced several sericulture farmers to sell their properties and commit suicide in Channapatna and Ramanagaram taluks, according to cocoon suppliers.
Lakshmamma (50) and her son Ganesh (25), hit hard by the steep fall in silk cocoon procurement prices, allegedly committed suicide by jumping into the Singarajapura lake in Channapatna taluk on May 5.
In anticipation of getting a good price, they had brought cocoon to the government cocoon market at Channapatna on May 4. However, the price crashed by at least 40 per cent on that day. The victims had borrowed a huge sum from their friends and relatives, Channapatna subdivision police said.