Farmers in Agago country say the price of cotton has dropped from 3600 shillings per kilogram to 800 shillings per kilogram this season.
The farmers accuse the Uganda Coffee Development Authority and its agents of failing to provide timely interventions to save the farmers from registering massive losses.
Addressing Members of the Parliamentary Committee on Agriculturalthat visited the district, farmers reported having signed contracts with Cotton Development Organisation (CDO) and their agents with cotton prices rated at 3600 shillings per kilogram.
Farmers say the prices have since reduced to 800 shillings per kilogramme which has left many farmers to face severe loses.
The farmers appealed to the Committee of Agriculture to help them convey their fears to Parliament so that adequate fixed prices for cotton are set to help them cope up with the increasing cost of living.
The Chairperson of the Committee who is also the member of parliament for Bugangaizi west in Kibale district Kasirivu Atwooki pledged to convene a meeting of cotton stakeholders to resolve the matter of cotton prices.
He says the Cotton Development Organisation has indicated establishment of the price support fund to protect farmers against Price fluctuations in the world market as a priority.